Hi all, i am faced with a dilemma in that to grow my business to the next level i need to have black ownership. Currently we are level 4 EME but we are being forced to have have black ownership by many large non government companies.
I dont have a problem with that if we can have that person adding value to the business and then this brings along the growth that helps take us to the next level. The problem i have is i dont have anyone within the organisation who i could even ear mark for that position. Someone outside exposes us to a huge risk. I am not rubbing shoulders with anyone who might be able to come on board who i can trust and fills a requirement.
So i thought of a new employee of colour in a middle management position who we can give a share holding to, which he will have to work off the debt of that share holding and at the same time he can grow to become decision maker in the business over time.
My question is would that be legal and solve my ownership problem and if so how would be best to structure that deal in either a CC or we convert to a (Pty) Ltd.