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The role of a B-BBEE plan

The role of a B-BBEE plan

Why does a company need a Broad-Based Black Economic Empowerment (B-BBEE) plan if:

  • If they are receiving orders?
  • Have they requested services?
  • They already have existing clients?

A B-BBEE plan is much more than the above mentioned, it can be seen as the following:

  1. A tool for how your business is put together with the main focus being compliance with the B-BBEE legislation.
  2. A workable document in order to monitor your progress.
  3. It is a conscience – holding yourself accountable for the targets and goals that need to be achieved.
  4. An instrument to control the fate of your business with regards to your participation in the B-BBEE environment.

When SEESA BEE provides you with a B-BBEE plan you can be sure that the following actions have taken place:

  1. We have set clear targets and goals after consulting with all parties, based on what the company is able to commit to for the financial year ahead, not ignoring the set targets by the legislator, but showing commitment and effort working towards the final outcome.
  2. We have reviewed your operational plan for the year ahead.
  3. The company’s financial position has been taken into account for setting reasonable targets and goals for:
    • Skills Development;
    • Enterprise/ Supplier Development; and
    • Socio Economic Development.
  4. We have reviewed your staff planning and assisted the company to correctly position employees for future employment where shortfalls have occurred with regards to Employment Equity Development.
  5. Therefore, the B-BBEE plan that SEESA compiles with the assistance of all the relevant role players, is a holistic document, not only for company use but also for existing and future clients as well as future prospects.
  6. This document provides the reader with a detailed overview of the company’s commitment towards B-BBEE for all 5 elements; targets and goals set for the current and following financial year; and also goals achieved for the last rated financial year.

ABOUT THE AUTHOR

Geralene van Wyk obtained her BA (Psychology) and LLB degrees from the North-West University. After her studies, she completed her articles in Pretoria and was admitted as a practicing attorney in 2006 and a conveyancer in 2007. She joined SEESA BEE in 2011 as a legal advisor and is currently a SEESA BEE National Training Senior Legal Advisor at the Pretoria Head Office.

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