It is virtually impossible in this day and age to run a successful and burgeoning business without the best B-BBEE advice – and a consistent and steady guiding hand. In fact, it has been said that compliance with the B-BBEE Act No. 53, first promulgated in 2003 plus SASAE 3502 have become sure-fire growth strategies.
So, what are the questions you should be asking and what should you be aware of?
Well, whether you are an SME or a global player, essentially there are seven triggers if you are serious about gaining a measurable competitive advantage by identifying opportunities and compatible partners in the local market.
Let’s start by asking how you think you might fare as things stand right now? How could you improve your B-BBEE scorecard based on the seven pillars on which the Act rests?
- Ownership
- Skills development
- Management control
- Preferential procurement (as set out in the Preferential Procurement Policy Framework Act – or PPPFA
- Employment equity
- Enterprise development
- Corporate social responsibility (we prefer to think about it as Corporate social investment as we believe that your efforts should always be brought back in service of the bottom line).
Ask yourself how much you could do to score a lot better. And how much your business would benefit and thrive if you were able to comply.
The truth is, we as business people cannot be expected to stray too far away from our core competencies and a focus on the deliverables our clients rightly demand.
That is why specialist consultancies likeGestalt exist. Our sole purpose is to analyse your specific needs and ability to achieve the highest level of compliance. With the right partner, we know you can grow.