We will be successful!
Now that the World Cup is over many South Africans feel elated at the tremendous success of the entire event. Undoubtedly one of the most significant benefits to South Africa was nation building – stand united. This is most certainly the first large scale unification and ultimately transformation that South Africa has ever participated in and, well simply it was an outstanding success.
I found this particularly interesting. I am and have been for a long time a passionate supporter of South Africa and transformation in general. The B-BBEE Codes of Good Practice is a wonderful piece of legislation which brings real, genuine transformation to all.
Ke Nako – It’s time to be successful.
How to prepare for BEE Verification conference
Johannesburg 22nd July 2010 – Cape Town 27th July 2010 – Durban 3rd August 2010
|The Cost of BEE Compliance|
Many people ask us “what is the cost of becoming B-BBEE compliant”. It is a bit like asking “How much does giving your children a good education cost?” Most people will agree that a good education is an investment in your children’s future and not a cost at all.
We can identify various types of costs in becoming BEE compliant. Costs depend on the size of business, the type of business and the level of compliance required.
There are two key costs; direct costs and indirect costs:
1) The cost of a consultant
2) The cost of obtaining your verified certificate
3) Direct costs in earning points
4) The cost in time and effort in carrying out the activities needed to earn points
How to Structure your Ownership Deal
|BEE Scorecard vs Verified BEE Certificate|
This is one of the most confusing aspects of BEE. “What is the difference between a BEE scorecard and a Verified BEE certificate”?
Simply, a BEE scorecard is a calculation of how many points you have earned. A Verified BEE certificate is a confirmation that the points you have earned have been verified.
Your customer wants a verified BEE certificate from you, but before you can give that to them you must have a scorecard in place so that you can earn enough points to satisfy them.
How does one go about getting a verified certificate?
1) Obtain a BEE scorecard reflecting points earned
2) Call in a verification agency to verify that the points you have earned are correctly stated and accurately calculated.
While there is demand for a BBBEE Scorecard someone will be taking advantage, shouldn’t that someone be you…
|Not sure how to get a BEE Scorecard, click here to see a demonstration of how best to produce your own BEE scorecard.|
Turnover below R5 million – find out how to get your BEE Exemption.
Is BEE procurement a pain? Sort it out quick and easy – click here.
14 July 2010
In this issue
- The Cost of BEE Compliance
- BEE Scorecard vs Verified BEE Certificate
EconoBEE is a BEE consultancy that has developed extremely effective tools to measure and implement Broad Based Black Economic Empowerment. Our services focus on the business side of BEE. Our services include EconoBEE Scorecard, BEE Scorecard Workshops, EME Pack, Document Pack, EconoLog and the 10 Step Process to BEE Compliance.
Our company supports various organisations and drives the BEE Expert Group 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.
Tel: 0861 11 3094 or 011 483 1190
Fax: 011 483 1195
We know how useful our newsletters are but you needn’t wait for our newsletters – follow our Tweets, connect with us on Facebook or stay well informed by reading our BEE Blog.
Know someone who might be interested in the email? Why not forward this email to them.