Benjamin Franklin once said “By failing to prepare, you are preparing to fail”

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These words have particular relevance in the ever changing Broad – Based Black Economic Empowerment (BEE) (“BEE”) space. The ability to plan is of paramount importance, as is being able to execute, monitor, compensate and mitigate the risks during the planning process. These considerations will ensure overall success.

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Our consulting process is cost effective, practical and efficient. We strive to educate our clients with a view to understand BEE, thereby allowing them to make informed decisions about their company.

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We provide in-depth analysis and a functional strategy to address your company’s BEE gaps and offer unique solutions to assist your business with the implementation process, taking care of all associated compliance products.

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The BEE consulting services we render assist you with the finer details of your points earning per element and ensure that your company does not forego points due to minor inconsistencies. We are here to guide you through every step of the process from an un-audited snap shot, a gap analysis, a strategic plan, monthly measurement of your actual versus targets, gathering of information and documents needed for the BEE audit, to finally attending your onsite audit.

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We operate using the latest BEE technology with the most widely accepted BEE spreadsheets and calculators used by verification companies.

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Many companies don’t have the capacity to themselves attend to the administrative requirements necessary for BEE. This is where we offer an invaluable service.

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The engagement of Compliance Hub Consulting is an investment for your business. It will result in a substantial saving by having accurate rand per point calculations and being able to maximize the benefit associated with the recovery of all governmental incentives.  

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A good BEE rating will ensure that clients benefit by doing business with you. This is invaluable! The ever-changing laws, stances and regulations can make it difficult to keep up and implement a BEE strategy unless you are on top of these changes. If you are not on top of the changes, any missteps can cost you greatly.

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Our holistic approach to company compliance includes, but is not limited to:

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• Ownership;

• Solutions, registrations, and implementation of various ownership solutions either direct, indirect, sale of assets, Equity equivalents, Employee Ownership trusts, Educational and Key person Trusts;

• Ownership trust compliance training and monitoring;

• Management Control;

• Employment Equity Plans;

• Employment Committee selection training and meetings;

• Employment Equity Report submission;

• Recruitment and training for disabled persons;

• Skills development compliance

• SETA registrations;

• Learnership Implementation;

• Training providers and training programs;

• Work skills plans and Annual Training Report (WSP/ATR) preparation and submissions;

• Skills committee selection, training and meetings;

• Discretionary training requests from SETA

• H12 and ETI;

• Applications for tax concessions;

• Yes incentive targets and implementation;

• Supplier & Enterprise Development;

• Collection and analysis of BEE certificates under the Procurement element;

• Enterprise Development Beneficiary analysis and solution;

• Supplier Development Beneficiary analysis and solution;

• Socio Economic development;

• Confirming the eligibility of chosen beneficiaries and validating them against the required BEE criteria;

• Occupational Health and Safety (“OHS”);

• OHS Certification;

• OHS Audits;

• OHS Implementation

 

The premise behind BEE in South Africa is transformation. The scorecard is used to determine the current level of transformation in your company. The overall BEE score that the company attains, will result in the BEE rating being given a status of a Level 1 contributor (the highest/best) to a Non-Compliant contributor. Companies have to apply for BEE status at a SANAS approved BEE verification agency. Having the guidance of a BEE consulting firm will yield much better results on the date of audit. Strategic changes will produce much better scores and better rating levels for your company which will translate to better business.

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The following elements are measured to calculate an entities’ BEE score:

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• Ownership - is the percentage of black ownership in a company, which ownership is directly involved in the strategy and leadership of the company along with their financial compensation. The ownership element accounts for 25 points of a BEE score.

• Management Control - represents the amount of black people across junior, middle and senior management levels of a company as a percentage of all managers. It accounts for 19 percent of the total score. Management control also measures the number of disabled employees in a company.

• Skills development – Skills Development consists of training, mentoring, learnership programmes, bursaries and internal company training for previously disadvantaged employees. It must be noted that these training programs and initiatives must fall within the guidelines of the BEE outlines to qualify. Implementing learnerships, apprentices and bursaries will also benefit companies with tax concessions and a large amount of funding can be claimed from the various SETA’s. 20 BEE points can be earned on skills development.

• Supplier and Enterprise Development - Supplier and Enterprise Development represents the number of black owned enterprises supported by your business. A company needs to buy products from a company that has a high BEE rating. It has great value for the economy as it creates a chain reaction for businesses to support BEE compliant companies. 40 points are available for this element.

• Socio-Economic Development – A business’s social responsibility is also a consideration in BEE scoring. BEE points are earned based on the percentage of black recipients that will benefit from the company’s donations. 5 points are available in terms of this element.