BBBEE management for small business in tight times

Posted by Transcend
Wednesday, 18 May 2016  |  Comments

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Statistics South Africa announced on Monday, 9 May 2016 that South Africa’s (official) unemployment rate had increased to 26.7%, a 2.2 percentage point increase compared to the last quarter of 2015. This means that 5.7 million out South Africa’s 36.4 million people of working age in the country were unemployed during the first four months of 2016. Of the 26.7%, at least 60% are young people. South Africa’s economy grew by only 1,3% in 2015 and racial tensions in the country are at levels not seen since the advent of our democracy. Our education system does not rate amongst the best in the world yet, in our frustrations, we deliberate let our schools burn.

So how should small businesses who may already be struggling to stay afloat and/or are faced with pressure from increasing competition in tighter economic conditions respond? Compounding the challenges faced by small businesses may also be an inability (due to capacity, resources or other reasons) to address and appropriately respond to what may seem to be burdensome regulatory requirements, particularly the new rules of Broad-based Black Economic Empowerment (“B-BBEE”) legislation.

Transcend Corporate Advisors has a proven track record of providing assistance to its clients that not only enable them to meet the requirements of the B-BBEE Codes in a manner that results in excellent scoring and brings about a return on investment, but also in a manner that has direct and positive impact on the business and the people within and related to the business. Although a pragmatic view may dictate that the correct approach is to shelve contributing to the greater good of society and to rather keep the business’s focus and energy on the bottom-line only, Transcend believes that it is possible to comply with the B-BBEE, achieve a good score and make a difference at the same time.

Transcend Corporate Advisor’s Go.Be business unit has been established to provided focussed and specialised BEE and transformation services and products to Qualifying Small Enterprises (entities with an annual turnover between R10 million and R50 million per annum). These services and products enable clients to maximise the new and significant opportunities created by the Revised BEE Codes for QSE’s grow their business, gain access to markets and have impact on society. Go.Be takes the sting out transformation by providing an integrated management solution for Qualifying Small Enterprises whilst at the same time enabling them to realise their transformation goals and objectives.

Our “Big Brother” solution takes away the hassle of monitoring and managing this process with inadequate capacity and makes the journey an empowerment journey and not just a scorecard journey.
Small businesses have a role to play in stabilising and growing our country’s economy as well contributing to the improvement of the quality of life and opportunities for all South Africans. The Revised B-BBEE Codes of Good practice present a vehicle through which to effectively do so. Let us help you to do so.

For further information contact 011 442 2422

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