How to become BEE Compliant
By now you have probably received many letters from customers asking you for your organization’s Broad-based Black Economic Empowerment (BBBEE) status. It is not difficult to become BEE Compliant. Follow our 4 phase process:
The first phase of BEE is education – you need to learn what BEE is and how it works in order to make the right business decisions. Get to understand BEE so you will make the correct – and profitable decisions.
We run regular half day workshops in our offices, usually every Tuesday. In 4 hours you will learn what BEE is, how it works, and it will help you form the basis of your BEE Profile/Strategy. We even go through a practical process and help you produce your own BEE scorecard. All delegates walk out with a good knowledge of BEE and have made a good start on their own BEE Scorecard rating.
We also organise in-house workshops for companies who want 10 or more staff to learn about BEE.
Corporate BEE Profile and Strategy:
The second phase is setting yourself targets and formulating strategies that will help you reach your targets. You will need to identify where you are in the process. We often say “You are more BEE compliant than you realise.” It is also necessary to document your status/your BEE profile. This helps you in designing a practical BEE strategy. You will also need to create BEE policies for your business. This helps guide you and your staff.
We can assist you in creating a profile, strategy and set of policy documents. It is important to make sure that future BEE transactions make business sense and with the help of an experienced consultant your BEE journey can be vastly simplified.
BEE Scorecard Self-Rating:
The third phase is producing a BEE Scorecard. Your score will in all likelihood be low – as are most companies’ score – but it will give you a starting point. You can work towards increasing the score in line with your strategy.
Our EconoBEE Scorecard software is ideal for this purpose. EconoBEE Scorecard produces a scorecard that is based on the guidelines specified in the Department of Trade and Industry’s BBBEE scorecard. It therefore provides you with an accurate up to date scorecard that is in a format that you can submit to your customer and the BBBEE verification agency of your choice for final verification.
BEE Scorecard Accredited Rating:
The fourth phase – You will need to produce an official BEE scorecard. This will need to be done by an accredited rating agency or company auditors. Currently there are no accredited BEE Verification agencies, and no agency will be accredited until the latest codes have been released and gazetted.
We have forged an alliance with Lekung BEE Ratings who will be able to produce an accredited BEE certificate for you when you do require it.
NB. If you are a QSE (Qualifying Small Enterprise), then self-rating is acceptable.