Headline Profits

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Tag Archive: BEE

BEE is short for Black Economic Empowerment

December 16, 2016

Widespread panic was caused when new BEE laws were proposed recently. The new codes were amended so that smaller businesses would have an easier time of becoming BEE compliant and BEE consulting firms believe this is the wrong way to go. In the short term, this seems like a route that is likely to get more businesses involved in the movement. BEE is short for Black Economic Empowerment which is a means of financially righting the wrongs caused by the injustices of the past. In South Africa small to medium sized businesses are those that are defined as having fewer than 50 employees and less than 10 million in turnover. For these companies, all that is required to become BEE is to provide an affidavit.

The problem lies, says leading BEE consulting companies, in the long term fraudulent activities and that there will be those who will take advantage of …

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Tackling BEE issues within a business can be a harrowing experience

November 16, 2016

Tackling BEE issues within a business can be a harrowing experience, especially if it will be done by those who do not have a thorough understanding of it. BEE consulting firms are dedicated to understanding its laws and how to best use the codes to better the business and as a by-product, better the country. They are the perfect entity to bring in to offer help.Businesses no longer have to worry about keeping their BEE scores on track and always having to amend policies as the law changes. Like with all new initiatives within a business, the bottom line lies at the profit margins. Many people are of the understanding that implementing BEE will be an expensive exercise and that there will be no real benefit to the company.

On the contrary, BEE consulting will guide a company through the ropes of the codes and act as the go between …

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BEE seeks to also give a wide array of benefits to businesses who are compliant with its rules

October 7, 2016

BEE seeks to also give a wide array of benefits to businesses who are compliant with its rules. To make the most of this and to reap the most benefits, hire out the services of a BEE consulting firm. BEE consulting firms are there to provide assistance on this matter to businesses who wish to become BEE accredited. While there are no legal requirements for businesses to comply with this status, one cannot argue that it does come with a host of benefits. Firstly there are monetary get backs from SARS along with having a larger business dealing. This is because, a part of being BEE accredited means that you can claim points if you do business with another company that is BEE compliant. It also means that if you are not, you will not be on the radar for other companies who may have wanted to do business with …

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