It is vital for any business owner to know the processes of BEE before you engage with any services under BEE. It is also important to know that the BEE Verification Types in Johannesburg and their functions.
Once the Verification Application has been accepted, inspired.co.za will allocate a Verification Analyst. The analyst will arrange to meet with you at your office to provide BBBEE training.
During the BEE verification, the verified entity must submit physical proof of activity, spending, and contributions in the 7 elements of empowerment. These elements are:
• SKILLS DEVELOPMENT
Proof of training spends on HDI’s such as in-house programs and accredited programs such as ABET (reading and writing) and mentorship programs.
• EMPLOYMENT EQUITY
Submission of an EE report and the involvement of PDI’s in the organization on different levels and categories.
Proof of shares in HDI hands. A share certificate, for example, will need to be submitted for this purpose.
• PREFERENTIAL PROCUREMENT
Proof of purchases from suppliers that are BEE compliant as a percentage of total procurement spending.
• ENTERPRISE DEVELOPMENT
Aiding SMME’s and emerging entities owned by HDI’s to trade in the mainstream economy. An example is setting up a CC and contracting such an entity to provide products.
• SOCIO-ECONOMIC DEVELOPMENT
Social contributions towards own employees, employees’ families and communities such as paying employees children’s school fees and contributions towards black sports teams.
The balance of gender and race must be maintained in the business to follow BEE Verification Types in Johannesburg rules and regulations.
What are the BEE Verification Types in the Johannesburg process?
Step 1 the first thing to do in BEE verification the client submit details and documents of their company confirm the size of your company and its classification.
Step 2 Is to calculate your ranking on the BBBEE scorecard, initially there are eight levels, with one being the best in terms of the benefits it confers.
Step 3 lastly once the BBBEE verification procedures are complete, the inspired.co.za will provide you with your BBBEE certificate, which is valid for a year. We will also talk you through ways in which you can work too, at the very least, maintain, or upgrade your ranking.
Many people have wasted thousands on the BEE Verification Types in Johannesburg, therefore, it is necessary to assess whether you require the services of a BEE verification agency. In order to avoid wasting time and money, before doing the verification, it is advisable to ensure that you are 100% ready for it if you are not sure consult inspired.co.za the trained staff will assist you.