Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: SME Status

  1. #1
    Gold Member
    Join Date
    Jun 2006
    Posts
    561
    Thanks
    32
    Thanked 49 Times in 32 Posts

    SME Status

    You may all go ahead and laugh.......but don't let me catch you!
    Is there such a thing as an OFFICIAL SME status? Special documents/scorecards such as the BEE scorecard?
    Regards

    Debbie
    debbie@stafftraining.co.za

    From reception to management training, assertiveness, accountability or interviewing skills, we have a wide range of training workshops available for you!
    www.stafftraining.co.za

    Find us on
    Facebook

  2. #2
    Moderator IanF's Avatar
    Join Date
    Dec 2007
    Location
    Jhb
    Posts
    2,679
    Thanks
    197
    Thanked 529 Times in 405 Posts

    Certificate

    I was going to offer a certificate for this, but I decided to be honest and say no official definition. The BEE codes give the best definition, but this depends on the industry.
    Only stress when you can change the outcome!

  3. #3
    Gold Member
    Join Date
    Jun 2006
    Posts
    561
    Thanks
    32
    Thanked 49 Times in 32 Posts
    Thanks Ian, this is sorta kinda what I thought but then I have this huge corporate giant asking me in their supplier docs for SME proof!!! Sometimes I think I belong in a different simpler world!
    Regards

    Debbie
    debbie@stafftraining.co.za

    From reception to management training, assertiveness, accountability or interviewing skills, we have a wide range of training workshops available for you!
    www.stafftraining.co.za

    Find us on
    Facebook

  4. #4
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,648
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    In terms of the National Small Business Act of 1996 (amended 2004), there is a defined table - Schedule 1 - that defines the various business categories. This table has been used for official (government) definitions for some time since and as far as I can tell, remains unammended.

    Follow the link above and go to the bottom of the document.

    As far as I know, there is no "verification agency" type process. A letter from your accountant/auditor confirming the relevant details should suffice as evidence.

  5. #5
    Moderator IanF's Avatar
    Join Date
    Dec 2007
    Location
    Jhb
    Posts
    2,679
    Thanks
    197
    Thanked 529 Times in 405 Posts
    Dave
    Thanks for that, I didn't know about this act.
    Only stress when you can change the outcome!

  6. #6
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,648
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    Ian, you might still be on track with the BEE definition anyway. It depends what the company wants it for. If it's part of a preferential procurement assessment, the generic BEE codes of good practice definition would apply.

  7. #7
    Platinum Member SilverNodashi's Avatar
    Join Date
    May 2007
    Location
    Johannesburg, South Africa
    Posts
    1,197
    Thanks
    12
    Thanked 188 Times in 136 Posts
    Dave, maybe you can clarify something. For a small company with less than 5 staff, what is the BEE requirements, and does one NEED to have BEE status?
    Get superfast South African Hosting at WebHostingZone

  8. #8
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,648
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    If your turnover is under R5 million per annum, you're an exempt enterprise regardless of the number of staff. If your turnover is more than R5 million per annum, let me know and we can explore that scenario

  9. #9
    Platinum Member SilverNodashi's Avatar
    Join Date
    May 2007
    Location
    Johannesburg, South Africa
    Posts
    1,197
    Thanks
    12
    Thanked 188 Times in 136 Posts
    ok, but how does that affect if we want to get an investment and BEE is needed?
    Get superfast South African Hosting at WebHostingZone

  10. #10
    just me duncan drennan's Avatar
    Join Date
    Jun 2006
    Location
    Cape Town
    Posts
    2,642
    Thanks
    119
    Thanked 94 Times in 77 Posts
    If your turnover if under R5mil then you automatically classify as a level 7 level 4 (100%) BEE contributor. Typically that value would then be used in a clients procurement BEE calculation.

    Somehow I suspect that it all might be academic in some cases though.

    What exactly is being asked from you, and what relation do you have to them?
    Last edited by duncan drennan; 03-Apr-08 at 10:09 PM.
    [SIGPIC]Engineer Simplicity[/SIGPIC]
    Turn ideas into products | The Art of Engineering blog

Page 1 of 2 12 LastLast

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
  •