St Aiden’s Home SchoolSouth Africa

Report on the SA Budget

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Many companies including Small to Medium Enterprises, perceive Black Economic Empowerment (BEE) as an overwhelming concept. In this edition of the Take Note we have cut through the jargon around BEE and unpacked how exactly it impacts your business. We've called in the experts to ensure you only receive the best advise. Furthermore we have a quick summarised look at the 2007 Budget Speech.

BEE codes less onerous for small Players
- By Rienzo Colpo (CEO of the Caird Group) -

Does BEE apply to your business?

It is very important to note that BEE is not obligatory for any private company in South Africa. It is technically impossible for the government to legislate as to who your shareholders should be, who you will employ, who you will buy from and how you should donate money to charity and other causes. But they can regulate how the state and parastatals go about doing this. BBBEE (Broad Based Black Economic Empowerment) is therefore only binding on the state. It should also be noted that if your business focuses on the individual consumer then it is very unlikely that they will ever be concerned about your BEE status. It is a different story if your target market is corporates or government; under these circumstances they are dependant on your BEE scorecard for their own BEE scorecard.  For more, copy and paste this link in your browser.
http://www.postnet.co.za/index.php?option=3&id=11&com_task=1&x=31


How does the 2007 Budget Speech affect you?

The Budget speech by the Minister of Finance, Mr. Trevor Manuel on 21st February 2007 was generally well accepted. SARS has compiled a useful document showing how the changes affect you and your business. For more, copy and paste this link in your browser http://www.postnet.co.za/docs/Budget%20impact_2007.zip 

 

All you need to know about how to get a BEE rating is set out in the EMEX BEE Management Handbook. Get your own free download now.

This is the first edition of many to come. We will keep you updated with future issues.


 

 

 

 

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