B-BBEE fronting remains a serious problem that requires urgent and effective intervention. That’s the conclusion reached by B-BBEE Commissioner, Zodwa Ntuli. Addressing the Black Business Council Summit in 2021, Ntuli said any company found misstating their B-BBEE status should have their licence terminated. Even as
There’s a ‘fast’ way to prepare for your B-BBEE Audit that is really the slow way in disguise. Too often, the verification deadline looms and then it’s all hands on deck, scrambling to get all the relevant data and documents in order. It’s a wild
The Preferential Procurement element of B-BBEE enables you to enhance your Scorecard while supporting and developing smaller Black Owned businesses. Supplier Development can have far-reaching benefits: not only can you directly support the Black Owned business within your value chain, you ultimately help create a
B-BBEE is complex but there are excellent resources you can take advantage of to simplify the compliance process. A good B-BBEE advisory service will provide strategic guidance on which B-BBBEE initiatives will best suit your business objectives. While specialised software makes B-BBBEE compliance faster and
The Automotive Investment Scheme (AIS) was introduced to grow and develop the automotive sector. The AIS incentive takes the form of a non-taxable, reimbursable cash grant for qualifying investment. When the scheme was introduced, the qualifying investments were as follows: These grants aim to stimulate
It’s not cynical to say that South Africa’s social problems present an economic crisis. It’s cynical to say that there’s nothing we can do about it. However, there’s a paradox. The need for urgent action means that we need to pause and reflect to ensure
Our children are the future. It’s the ultimate cliche. But it’s a cliche that tells the truth. Literally, the skills, resources and opportunities we provide for young people today will define our country’s success or failure in the future. It is, therefore, our responsibility to
B-BBEE management software offers a faster way to prepare for your B-BBEE audit. After all, with cutting-edge B-BBEE software, many of the labour-intensive and time-consuming compliance processes can be fully automated. However, efficiency doesn’t just mean getting the job done in less time. By making
At BEE123, we’re always talking about the potential of B-BEE to produce value and make a lasting social impact. We see B-BBEE as an opportunity, not simply an administrative challenge. That said, there’s no getting around the fact that compiling your annual B-BBEE Commission compliance
Broad-based Black Economic Empowerment or Corporate Social Investment? These are often posed as paradigmatically different kinds of business initiatives, with very different goals and outcomes. But thinking of CSI and B-BBEE as two entirely separate programmes isn’t always helpful. In many cases, it’s helpful to