Build the Country Through Enterprise Development
I get it, you hate BEE. You also do not agree with just “giving it all away”. I understand.
BUT, it is necessary to create jobs. More jobs mean more opportunities for the youth. Is equates to a decrease in hunger, thus also decrease in crime.
Enterprise Development alone will not solve all our social issues, but it can contribute, if done correctly.
Let’s look at Enterprise Development first:
- You assist a 51% black owned EME or SQE to grow
- The beneficiary Can NOT be a supplier to your company
- You must spend 1% of your net profit after tax on it
- This would give you 5 points to the scorecard
How do you practically get this done?
The easiest way to achieve success on enterprise development is to partner with an incubator (alternatively also called accelerators in incubation hubs). The incubator will take care of sourcing the beneficiary, analysing the need of that business, as well as take care of mentoring. You will also be assured of the supporting evidence once you go for BEE verification, to receive your B-BBEE certificate.
If the incubator is good, they won’t select beneficiaries at random, but rather incubate those that could potentially become suppliers in future years. This will then earn you a bonus point on the scorecard.
Have a look at www.guqula.co.za as an example of an incubator that does exactly this.
In the video below further information is shared.
B-BBEE Certification - Part 8
Watch the video on B-BBEE Certification. In this video, we will explore Enterprise Development towards your B-BBEE certification.
To continue with the training, please continue below.
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