BEE Verification Companies
Tuesday, June 22nd, 2010BEE verification companies are useful for outsourcing your company’s BEE certification. BEE is becoming an unavoidable factor in business and is an issue that needs to be addressed for the benefit of your company. Make use of a SANAS-accredited verification agency like Integra Scores to take care of your BEE scorecard.
Black Economic Empowerment (BEE) is a program instituted by the South African government. It aims to increase the number of black individuals making an active contribution to the South African economy. BEE is being attained through the establishment of the BEE scorecard. While BEE is not law, companies that choose to implement BEE are offered rewards for doing so in the form of government incentives and opportunities to conduct business that non-compliant companies do not enjoy.
For the purposes of BEE, businesses are divided into: Micro Exempt Enterprises (EME), Qualifying Small Enterprises (QSE) and Generic Enterprises.
Micro Enterprises (EME) or Exempted Micro Enterprises. They are either: Companies with an annual turnover of less than R5 million or Companies in their first year of start up.
EMEs are automatically exempt from being evaluated against the seven elements of BEE and are regarded as fully BEE compliant with a scorecard rating of 4.
Qualifying small enterprises are small to medium sized businesses with a turnover of between R5 million and R35 million. These businesses are required to fulfil four of the seven elements of BEE to obtain BEE compliancy.
Generic enterprises are companies with a turnover greater than R35 million. These companies are required to fulfil all seven of the BEE elements in order to be BEE compliant. For more information on BEE verification companies, contact ESS.
