4th
Dimension is a training consultancy dedicated to the advancement
of individuals and the imparting of knowledge.
We are proud
to announce that we now offer an online B-BBEE scorecard application
service.
Click
here to apply online for your B-BBEE scorecard.
B-BBEE
Verification Services
The Broad-based Black Economic Empowerment
(B-BBEE) Codes of Good Practice was gazetted by the Department
of Trade and Industry (DTI) on 9 February 2007. The Codes
promote transformation through empowerment.
B-BBEE compliance has currently been driven
by the element of Preferential Procurement, making it mandatory
for organizations wanting to do business with government and
related enterprises.
B-BBEE Verification services allow organizations
to be independently assessed on their compliance effort through:
Direct Empowerment: Ownership, Management
Control
Human Resources Development: Employment Equity, Skills Development
Indirect Empowerment: Enterprise Development,
Socio-economic Development
We offer verification
services for:
Large Enterprises
Full compliance of all seven fields of the generic B-BBEE scorecard
is required for large organizations with an annual turnover
of R35million or more.
Qualifying Small Enterprises (QSE’s)
With an annual turnover between R5 million and R35 million
receive some leniency in compliance by selection of four of
the seven fields on the QSE scorecard.
Exempted Micro Enterprises (EME’s)
with an annual turnover of less than R5 million are given
an automatic exempted status of Level 4 (Level 3 if more than
50% black-owned).
4th Dimension offers a professional,
impartial, confidential and reliable verification service. |
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FAQ's
Why does my company need to go through
the rating process?
A B-BBEE verification certificate is the best
business tool that gives your company a recognisable, accurate and
verifiable B-BBEE status to competitively position yourself in government
tenders and other business pitches. Not only does the B-BBEE certificate
look good in your company profile, it is a communique to other companies
that your company is committed to transformation, growth and development
of the South African economy and its people.
I am a black-owned company, why do I need
to be rated?
A B-BBEE certificate will give your company an
accurate, verifiable and recognisable B-BBEE status. It informs other
companies that your company is a verifiable black-owned company.
But B-BBEE is more than ownership, it is about empowerment. Empowerment
is giving recognition to equity (the employment of women and the
disabled) and social responsibility, empowering your employees through
skills development, empowering other companies through enterprise
development, developing strategies to be more competitive -essentially
companies want to do business with other companies who are not just
black-owned in name only but who are actively committed to the transformation,
growth and development of this country.
I’ve received several letters from
other companies requesting my company’s B-BBEE status. Why do
they need this information?
The field of Preferential Procurement is the
current driver of B-BBEE compliance and the transformation process
in South Africa. Not only has government and government-related
enterprises insisted on a company’s B-BBEE status for tenders
but has adopted procurement policies in all its business activities,
putting its weight behind B-BBEE compliance and empowerment. Companies
want and need to do business with other companies who are B-BBEE compliant
to empower their own B-BBEE status. In short, your company’s
B-BBEE status has a positive flow-through impact on other companies
that you do business with. They can use your B-BBEE status to help
boost their own B-BBEE status.
Do EME's need to be rated?
Although EME's are given an automatic Level
4 status (Level 3 if 50% black-owned), they can be independently
rated to improve and provide a more accurate and verifiable B-BBEE
status, giving an EME the competitive edge. They need to provide
proof of their exemption.
How often does my company need to be rated?
The B-BBEE certificate is valid for one year
only therefore companies need to be verified annually. An annual
rating process assists companies in meeting B-BBEE strategy targets
and improving their B-BBEE status to become more competitive. The
advantage of using the same company (if satisfied with the service)
to do the rating service annually is that a relationship has already
been developed so it is time-saving and thus cost effective.
What are the advantages of having a verifiable B-BBEE rating?
• Repeatedly we have emphasized the
importance of an accurate, recognisable and verifiable B-BBEE rating
certificate that your company can use with confidence in its business
transactions.
• An accurate, recognisable and verifiable B-BBEE certificate
will give your company that competitive advantage in marketing campaigns,
government tenders and other business tenders.
• Your company's status has a cascading effect on the rating
of other companies that you do business with. Therefore Preferential
Procurement is macro and micro companies indicating their preference
to do business with companies who have an accurate and verifiable
B-BBEE status that will positively impact on their own status.
• The B-BBEE rating process can assist your company in identifying
and developing skills in human resources (optimum utilization of
your company's skills levy).
• Keeping abreast with market developments and government
legislation. |
