By Many businesses are reeling from relief over the proposed new amendments to BEE verification. The codes have changed from a seven point system down to 5 which makes it easier for companies to get verified. Not only that, but now more points can be scored on each of the 5 codes. This can be maximized when bringing in a BEE consulting company. Not only do they prepare the business for getting verified in the first place, but the BEE consulting firm is also there on a quarterly basis to ensure that the companies BEE status is on track. It is illegal to state that the business is involved in one of the BEE codes and yet in reality to not abide by it or to do so incorrectly.
One of the 5 codes is social development. BEE consulting will ensure that the business goes about this correctly. This code is not generally affected by new BEE laws, basically because it is straightforward and awards the fewest points during the verification process. Skills development has its changes in taxes. The premise here is for the company to earn BEE points by hiring people with disabilities or bringing in people for a mentorship programme. The lure is also of tax deductions for each individual brought into the company for this purpose.
Since tax percentages change every year, so to would the amount that the company will be entitled to for each year. Businesses should go to BEE consulting firms to ensure that the people they bring into the company for this purpose stands in accordance with the values set aside in this BEE code. Supplier development is a BEE code which will gain you a lot of points and is the easiest way to earn them. Simply support another business with a BEE rating. It gets a bit tricky with the number of points earned because they change in accordance with the law.
Gaining the most amount of points is gained by just supporting another business with a high BEE rating. This is a 2 ended stick. Your business will only be contacted if other companies deem your rating high enough to deal with. You see, they would want to heighten their score as well. BEE consulting is essential in keeping this score high. It is unlikely that companies will have an inside person with the years of experience to tackle the ever changing BEE codes from within the company which is why a BEE consulting firm will need to be brought in.
Management and ownership is a straightforward concept in BEE. Most people think that this is the only requirement for BEE and without it, they will automatically receive a lower score and by having this low score will not be considered for sales from other companies and tenders from the government. Here, it is the percentage of non-white people in the workforce that changes to meet the needs of the country. BEE serves to close the gap of economic inequality and in the process bring about equal opportunity for all.
