BBBEE consultants are something every successful business needs to stay successful and improve their company culture and diversity daily – especially if you are in South Africa. Luckily, if you are unfamiliar with BBBEE consultants or even what BBBEE stands for we are here to help.

What is BBBEE?

BEE or BBBEE stands for Broad-Based Black Economic Empowerment of which the policies were set out in the BBBEE Act (No. 53 of 2003) and was revised in 2015. This is also reinforced by the Codes of Good Practice. The government in South Africa implemented this to ensure economic equality amongst race groups after apartheid ended. It is crucial for South Africa as it used to create more black-owned businesses while empowering all people of colour. However, this is an extremely complicated field and if you are not working with BBBEE consultants as a business we would recommend doing this as soon as possible.

Every Company Needs a BBBEE Strategy

If your company would like to be BBBEE compliant, improve your BEE score or would just like to improve the company’s well-being a BBBEE strategy is crucial. However, to do this you will need BBBEE consultants as they are specialists in this environment and can help you achieve your BEE goals in no time. So, what will they look at?

Firstly, BBBEE consultants are used because the BBBEE is complex and can be difficult to tick all the boxes for a business to benefit from being BEE compliant. Therefore, they will have to look at many variables and develop strategies to combat current obstacles and achieve the BEE goals and make sure it is sustainable. They will achieve the businesses’ dream BBEEE level in a budget-friendly manner and by doing this, make sure that they have the required documentation for verification.

To achieve this goal BBBEE consultants will look at BEE scorecard elements like ownership, management control, skills development, procurement, supplier, enterprise and socio-economic development. Something which is extremely complicated and takes a lot of time, planning, investigating and research. Luckily, BBBEE consultant is professionals in this field and know what to look out for and know what BEE strategies work for different types of businesses.

As you can see, a BBBEE strategy is not for the faint of heart and if you do not have any experience in this or are trained in this field, the chances of you developing a BEE strategy that will be successful within your business are unlikely. Making it essential to hire BBBEE consultants.

The benefit of obtaining your BBBEE certificate and achieving certain BBBEE goals with BBBEE consultants is that you can work with the government sector which includes public entities and municipalities. In addition, your business will also benefit by being taxed less and improving the company’s culture through transformation.

Conclusion

If you would like to save time and be cost-effective as a business, we would suggest hiring BBBEE professionals to take your business to new heights.