A Joint Venture (JV) is a business agreement between two or more entities whereby they agree to join their resources for the purpose to achieve a specific business goal. A JV is its own entity, separate and apart from the participants to the agreement. It will require its own Broad-Based Black Economic Empowerment (B-BBEE) certificate when responding to tenders and entering into contracts that require a B-BBEE certificate. This means you will have to obtain a new B-BBEE certificate for the...

During these strange and difficult times with the worldwide pandemic, most business owners are trying to tighten the purse strings on the business as the pandemic has had a massive negative impact on all businesses across all industries. The last thing people want to hear is that they have to spend money to maintain or promote the BEE level of the business. Unfortunately, the BEE mechanism requires continuous attention not to be caught off-guard when financial year-end comes knocking. This is...

The objective of B-BBEE is to correct the inequalities of the past by promoting meaningful economic participation of black South African citizens. Although entities cannot be forced to comply with the Broad-Based Black Economic Empowerment Amendment Act 46 of 2013 (B-BBEE Act) and the applicable Sector Codes, it is important to comply with the B-BBEE Act. The main reasons why it is important to be B-BBEE compliant can be summarised as follows: In order to engage with any government entity,...