FAQ'S


Why does my company need to go through the BEE verification process?


A legitimate BEE verification certificate enables a company to be recognised for its BEE status with the confidence that its status is accurate and verified. The certificate effectively confirms a company’s empowerment status and enables it to position itself competitively in government tenders and other business opportunities.


How long does it take for the verification process to be completed?


BEE Rating Solutions SA provides independently verified scorecards to you and your suppliers. We undertake to issue your scorecard within 48 hours for an Exempt Micro Enterprise (EME) and within 5 working days for a Qualifying Small Enterprise (QSE) or Generic Enterprise verification once all supporting evidence has been received.


How much does a BEE audit cost?


The cost of a BEE audit depends on the turnover of a company and how many people it employs. You can visit our “Request a Quote” page at www.beeratingsolutions.co.za and complete the application. One of our verification analysts will contact you as soon as possible.


How often should a BEE audit be undertaken?


Audits should be undertaken once a year as required by the Codes of Good Practice. However, if there is a change in one’s business which could prove to be beneficial in BEE terms (e.g. a BEE partner buys a stake in the business), then an audit should be undertaken earlier so as to reflect the change.


What are the 7 elements of BEE which my company will be rated on?


1. Ownership
2. Employment Equity
3. Skills Development
4. Preferential Procurement
5. Enterprise Development
6. Socio-Economic Development
7. Management Control


If your annual turnover is less than R5m you automatically qualify as an Exempt Micro Enterprise (EME) and is therefore exempt from BEE with a score of 65 on your BEE certificate.

Qualifying Small Enterprises (QSE's) with a turnover between R5m and R35m per annum can choose any 4 of the 7 above mentioned elements to be rated on.

Generic Entities (turnover more than R35m per annum) have to be scored on all 7 elements.



What is "Black Economic Empowerment (BEE)"?


This is an integrated and coherent socio-economic process that directly contributes to the economic transformation of South Africa and brings about both significant increases in the number of black people that manage, own and control the country’s economy as well as significant decreases in income inequalities.


What is "Broad-based Black Economic Empowerment (BBBEE)"?


This means the economic empowerment of all black people including women, workers, youth, people with disabilities and people living in rural areas through diverse but integrated socio-economic strategies that include but are not limited to :
•     increasing the number of black people that manage, own and control enterprises and productive assets
•     facilitating ownership and management of enterprises and productive assets by communities, workers, cooperatives and other collective enterprise

•     human resource and skills development
•     achieving equitable representation in all occupational categories and levels in the workforce
•     preferential procurement
•     investment in enterprises that are owned and managed by black people



What is the difference between EE and BEE?


EE is the acronym for Employment equity which froms a part of the BEE (Black Economic Empowerment) scorecard, under the Human Resources theme.


What is the purpose of the BBBEE Act?


• To establish a legislative framework for the promotion of black economic empowerment;
• To empower the Minister to issue codes of good practice;
• To publish transformation charters;
• To establish the Black Economic Empowerment Advisory Council.



Where can I get a Broad-based BEE (BBBEE) rating and/or scenario evaluation?


Go to our Request-a-Quote page and complete the application. One of our verification analysts will contact you as soon as possible.


Who is referred to as "black" according to the Codes of Good Practice?


"black people" is a generic term which means African, Coloured or Indian persons who are natural persons and:

 -are citizens of the Republic of South Africa by birth or descent; or

 -are citizens of the Republic of South Africa by naturalisation before the commencement date of the Constitution of the Republic of South Africa Act of 1993; or

 -became citizens of the Republic of South Africa after the commencement date of the Constitution of the Republic of South Africa Act of 1993, but who, for the        

   Apartheid policy that had been in place prior to that date, would have been entitled to acquire citizenship by naturalisation prior to that date.



Who are seen as being part of "black designated groups"?


"black designated groups" means:
1. black workers;
2. black unemployed people;
3. black youth;
4. black aged people;
5. black people with disabilities; and
6. black people living in rural areas.