Broad-Based Black Economic Empowerment strives to ensure that the economy is structured and transformed to enable the meaningful participation of the majority of South African citizens. B-BBEE addressed access to the broader economic landscape at all levels through elements of the B-BBEE Scorecard which include; skills development, employment equity, socio-economic development, preferential procurement and enterprise development, promoting the entry of black entrepreneurs into the mainstream of economic activity, and the advancement of co-operatives.
The Importance of B-BBEE to your business?
Most start-ups experience financial challenges short after launching their business because they lack a clear business plan. A business plan is a detailed description of your business idea, and how you intend to put it into action. Including the requirements of becoming B-BBEE compliant ensure access to potential revenue from both the public and private sectors. A business plan should include various details about the new business such as:
- Gain access to all the opportunities available in the private and government sector
- Bid favourably against large corporations
- Reap the benefits of preferential procurement in the private sector
- Become eligible for trade assistance and public finance
- Enter a public-private partnership
- Gain access to all the opportunities available in the private and government sectors
- Become a beneficiary of corporate enterprise development initiatives.
Here’s how we can help you
Vision Verification is prepared to help you take the next step towards economic empowerment with B-BBEE verification. We can assist with;
- Verify the status of your enterprise
- The legal framework of economic empowerment, including the B-BBEE codes of good practice
- The scorecards that are relevant to your sector
- Preparing your portfolio of evidence
- Introducing transformation and change management
- B-BBEE Training
- Consolidated B-BBEE certificates
- B-BBEE advisory services
