Results 1 to 6 of 6

Thread: BEE registration / renewal: Can I do this myself?

  1. #1
    Full Member
    Join Date
    Sep 2014
    Location
    South Africa
    Posts
    94
    Thanks
    3
    Thanked 1 Time in 1 Post

    BEE registration / renewal: Can I do this myself?

    Can I fill in or submit forms online myself or do I have to go through a BEE Accreditation company. I'm not thrilled with the idea that I have to pay someone else to do this for me.

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,980
    Thanks
    3,055
    Thanked 2,462 Times in 2,067 Posts
    Blog Entries
    12
    Quote Originally Posted by TravisZA View Post
    I'm not thrilled with the idea that I have to pay someone else to do this for me.
    On the flip side, the verification agencies are not thrilled with the idea that you don't have to pay someone else to do this for you

    Ultimately, it comes down to the need for at least some level of independent third party verification.
    The trouble with opportunity is it normally comes dressed up as work.

  3. #3
    Silver Member Greig Whitton's Avatar
    Join Date
    Mar 2014
    Location
    Cape Town
    Posts
    316
    Thanks
    32
    Thanked 99 Times in 81 Posts
    Quote Originally Posted by TravisZA View Post
    Can I fill in or submit forms online myself or do I have to go through a BEE Accreditation company.
    It depends on several factors:

    1. Which B-BBEE Codes you use (right now there are two Codes: the "Old" Codes from 2007 and the "New" Codes that were published last year but only become mandatory from May of this year).

    2. Your company's annual turnover.

    3. Your company's black ownership.

    4. The relevance of a high B-BBEE score for your business.

    For example, under the "Old" Codes, your business would be deemed to be an Exempt Micro Enterprise (EME) if its annual turnover was under R5 million. Under the "New" Codes, the turnover threshold for EMEs has been increased to R10 million. Regardless of which Codes you use, EMEs can automatically qualify for level 4 B-BBEE status without having to be certified by a verification agency.

    If your business is primarily or entirely black-owned, and your turnover doesn't exceed R50 million, then you would definitely want to use the "New" Codes since you would automatically qualify for level 1 or level 2 B-BBEE status (again, without having to be certified by a verification agency). If your business is entirely white-owned, then you would probably want to use the "Old" Codes (while you still can) - unless your turnover is above R5 million but below R10 million (since you would then still qualify as an EME under the "New" Codes).

    If your business qualifies as an EME but needs to achieve the highest B-BBEE score possible, then you would probably want to be certified by a verification agency and forego the automatic level 4 status with the intent of achieving a higher rating (unless your business is primarily or entirely black-owned, in which case the automatic level 1 or level 2 status is just about as good as it gets).

    If nothing else, hopefully this illustrates how complex the B-BBEE certification process can be (which is one of the reasons why there are independent verification agencies that specialise in this).

    Founder of Evergrow - Helping South African business owners grow their business without the growing pains

  4. Thanks given for this post:

    BusFact (24-Jan-15)

  5. #4
    Full Member
    Join Date
    Sep 2014
    Location
    South Africa
    Posts
    94
    Thanks
    3
    Thanked 1 Time in 1 Post
    Thanks very much. We have a couple of companies, some with TO less than R5m and others approaching the R10m mark so we should be able to be classified as EMEs for now

  6. #5
    Silver Member Greig Whitton's Avatar
    Join Date
    Mar 2014
    Location
    Cape Town
    Posts
    316
    Thanks
    32
    Thanked 99 Times in 81 Posts
    Quote Originally Posted by TravisZA View Post
    Thanks very much. We have a couple of companies, some with TO less than R5m and others approaching the R10m mark so we should be able to be classified as EMEs for now
    If you go the EME route, just ask your accountant / auditor for a letter verifying your turnover and EME status. They should know what you need (if they don't, find one that does). Technically, a sworn affidavit is all you need in terms of the "New" Codes, but many companies and government departments have yet to familiarise themselves with the "New" Codes so they won't accept sworn affidavits (even though they are legal).

    Founder of Evergrow - Helping South African business owners grow their business without the growing pains

  7. #6
    Diamond Member wynn's Avatar
    Join Date
    Oct 2006
    Location
    east london
    Posts
    3,338
    Thanks
    548
    Thanked 624 Times in 523 Posts
    If I am not mistaken FNB (effenbee) sent me an email saying that they will do a verification for clients at a reasonable fee.
    "Nobody who has succeeded has not failed along the way"
    Arianna Huffington

    Read the first 10% of my books "Didymus" and "The BEAST of BIKO BRIDGE" for free
    You can also read and download 100% free my short stories "A Real Surprise" and "Pieces of Eight" at
    http://www.smashwords.com/books/view/332256

Similar Threads

  1. Replies: 3
    Last Post: 07-Aug-12, 12:43 AM
  2. [Question] Pastel Cover annual renewal fee
    By BusFact in forum Accounting Forum
    Replies: 8
    Last Post: 07-Dec-10, 02:57 PM
  3. drivers license renewal
    By murdock in forum General Chat Forum
    Replies: 16
    Last Post: 01-Dec-10, 12:38 PM
  4. Lease renewal.
    By marco in forum General Business Forum
    Replies: 4
    Last Post: 21-Jan-08, 06:03 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •