Businesses Stand to lose B-BBEE Compliance with New Draft Codes – EconoBEE Newsletter – 16 October 2012

You’re receiving this information packed newsletter from EconoBEE
EconoBEE - BEE Points = Business

Dear [Name]

 

 

Businesses Stand to lose B-BBEE Compliance with New Draft Codes

The new draft BEE codes proposed by the dti will alter the current points rating of most companies.

  • A business that currently earns 65-75 points and is rated level 4, will drop to level 6 or 7 based on the new codes. As a result they will need to do additional work to earn more BEE points.
  • Companies with a current level 8 rating, the lowest level which is between 30-39 points, will become non-compliant on the revised codes.
  • Currently, to achieve level 6 (which is a rating better than level 8), 45-55 points are needed. Based on the new codes, that company could drop to a level 8 rating.
  • Any drop in level is a significant drop which could impact the amount of business you are awarded.

The new codes will make it more difficult to maintain the current levels. It is expected that numerous companies will lose points and their ratings and will be downgraded or even become non-compliant.

Read more…

 

 

Opportunities for Black Owned Businesses

The revised B-BBEE codes offer excellent opportunities for small black owned businesses. Black owned businesses need to understand how they can take advantage of this. The revised codes are still in draft format, but if passed will give excellent benefits to black owned businesses.

The revised codes give different benefits to 100% black owned businesses and those that are more than 50% black owned. A small black owned business, that has an annual turnover of less than R10 million is regarded as an EME – exempt micro enterprise.

A 100% black owned EME is allocated a level 1 – the highest level available. This will be of great benefit for tendering for business, both government and private. An EME that is more than 50% black owned, but not 100% is allocated level 2. Any other EME is regarded as level 4 – also a good score which will assist in winning business as small businesses will be in high demand by larger companies.

How to obtain a valid BEE certificate? Contact us and we will help you.

Contact our consultants now to help make B-BBEE a simple, easy exercise.

 

 

 

 

 

 

 

 

 

 


New Supplier Development Element – 40 valuable points

The Revised Codes are out. The merged element Enterprise and Supplier Development has already been controversial and we haven’t even started using the new codes. Worth 40 points it is the most valuable aspect on the scorecard 5 points more than the previous codes. It is also a priority element meaning if you don’t comply with certain minimum targets your overall level could drop 2 levels.

Apart from the new element name and priority status, the recognition levels have been adjusted which immediately drops your score from in theory as high as level 3 to non-compliant.

Although the good news is that the revised codes are only drafts, the reality is that preparation needs to begin as soon as possible to avoid dropping a level or multiple levels as we are predicting.

Our annual BEE Procurement and Enterprise Development Conference held in November 2012 will now incorporate the future implications of the revised B-BBEE Codes! Book early and qualify for our early bird special.

Instead of getting frustrated at verification agencies, join us for an informative full day course and let us show you how to improve your BEE status. During the course we will show you tips and tricks to earn more points without spending massive amounts of administration time. Help you implement small projects to gather supplier data faster all while avoiding the dreaded fronting certificate.

Quite simply the BEE Procurement and Enterprise Development conference will give you:

  • The tools to effectively manage BEE Procurement and Enterprise Development
  • The knowledge to perfectly execute BEE Procurement and Enterprise Development and gain 35 BEE points (on the generic scorecard) to secure the next tender
  • More time to spend on other business activities

Book early for our BEE Procurement and Enterprise Development conference and receive a complementary license of EconoBEE V3 worth R3 500 (payment must be made two weeks before your attendance to qualify). 10% discount for 3 or more delegates from the same company.

Details

CostR3990 incl VAT
Venue15th November 2012 – CPT – Belmont Conference Centre
22nd November 2012 – JHB – Montecasino Conference Centre
29th November 2012 – DBN – Makaranga Garden Lodge
Time8:30 for 9:00 to 17:00
Booking Download our brochure and fax to 011 483 1195 or fill in our online form
Email info@econobee.co.za
Contact 011 483 1190
More infoOnline details on www.econobee.co.za, email info@econobee.co.za or contact 011 483 1190

Book now and gain the business you deserve.

 

 

 

 

 

 

 

 


 

 

Preferential Procurement Targets Increasing – Save Time by using the BEE Procured database containing over 28 000 BEE Certificates.
Procurement Managed Service: Our consultants can phone your suppliers for a BEE certificate – Managed Service.

 


 

 

 

Twitter - EconoBEEFacebook - EconoBEELinkdin - EconoBEEYouTube - EconoBEEEconoBEE Blog


While there is demand for a B-BBEE Scorecard someone will be taking advantage, shouldn’t that someone be you…


Want us to manage your BEE Process – Managed Service.

Turnover below R5 million – find out how to get your BEE Exemption.

Is BEE procurement a pain? Sort it out quick and easy – BEE Procured.

Need a scorecard – produce one yourself – EconoBEE V3.

EconoBEE Newsletter
16 October 2012

In this issue

  • Businesses Stand to lose B-BBEE Compliance with New Draft Codes
  • Opportunities for Black Owned Businesses
  • New Supplier Development Element – 40 valuable points

In other news

About EconoBEE

EconoBEE is an expert BEE consultancy. EconoBEE helps businesses Become BEE Compliant, prepare for verification, earn maximum BEE Points and ensure that they achieve the BEE Level they need to get more business.

Our services include BEE Management Systems, Training, EME Pack, Complete Managed Services; consulting and advisory and Procurement Solutions.

As leaders in the industry we are driven to help maintain and develop knowledge in the BEE industry.


Already have a BEE Certificate?

Please send it to us and we will include it in our BEE Procured database.


Contact Us

Tel: 011 483 1190
Fax: 011 483 1195
Email: info@econobee.co.za
Web: www.econobee.co.za


Follow us


We know how useful our newsletters are but you needn’t wait for our newsletters – follow us on Twitter, connect with us on Facebook or stay well informed by reading our BEE Blog.


Forward to a friend

Know someone who might be interested in this email? Why not forward this email to them using [forward].


Remember
BEE Points = Happy Customers = Sustainable Business


Regards
Gavin and the EconoBEE Team

Executive summary of B-BBEE

Turnover below R5 million per annum – automatic BEE status

Turnover above R5 million per annum – you need a BEE Scorecard. Our workshops, scorecard tools, procurement manager or a complete managed services will be best for you.

Your time on your business, our time on your BEE status

Tip:

Through our managed service save your company time and have our consultants assist you with Broad-Based Black Economic Empowerment.

10 Strategic Steps to B-BBEE!

We have prepared an easy to follow guide “B-BBEE in 5 Minutes” and “Crash Course to BEE Verification” which explains BEE in a simple step by step approach.

HomeCorporate ProfileBecome BEE CompliantEconoBEE ServicesBEE ResourcesContact

Copyright EconoBEE – Helping you and the Economy Grow . All Rights Reserved.


You may also like...