Being BEE certified can lead to a competitive advantage for your small business, this is achieved through implementation of BEE systems and getting a BEE certificate. There is an increased pressure for small business owners to attain a BEE certificate from suppliers and consumers. And even if your small business is not owned or managed by South African citizens who are of colour it is still possible for a small business to qualify.
If your small business has a annual turnover of less than 5 million annually you automatically qualify as level 4 contributor. If your small business is however owned by a South African citizen of color you will qualify as a BEE level 3 contributor. Once you have attained a BEE certificate other small businesses will benefit as they engage in preferential procurement to add to their score card.
If your small business continues to grow and you attain an annual turnover of 5 to 35 million their will be 7 pillars which your small business will need to fulfill 4 to attain a BEE certificate. Requirements for attaining a BEE certificate for your small company is points based. The following will lead to your small business earning points towards your BEE certificate:
Your small business will need to attain between 65-75% to qualify as a level 4 contributor.
The advantages of your small business having a bee certificate:
1.your small business will have a competitive advantage over other small businesses who do not have a bee certificate. As preferential procurement will effect the supply chain and effect whether or not your small business has customers.
2.You will stimulate the economy by an increase in foreign investment , decrease unemployment and assist with skills development in South Africa as well as fulfilling your social responsibility.
The process of attaining a bee certificate for your small company will have long term benefits for your small company and put you in a level of advantage over your competitors who are not certified. Even if a small business is not owned or managed by South African citizens of colour it is still possible to attain a bee certificate.