How often should a BEE audit be undertaken?
The Codes of Good Practise require audits to happen once per year. However, if there is a change in one’s business which could prove to be beneficial in BEE terms (e.g. a BEE partner buys a stake in the business), then an audit should be undertaken earlier in order to reflect the change.
To which category of enterprise does my company belong?
Exempt Micro Enterprise (EME):
Enterprises with annual turnover of less than R5 million automatically qualify as an EME and are exempt from BEE Verification. A score of 65 (Level 4 rating) will be entered on their BEE verification certificate. Please note that certain sectors such as Tourism (R2.5 million) and Construction - Building environment professionals (R1.5 million) have different maximum turnover criteria in order to qualify as EME’s.
Qualifying Small Enterprise (QSE):
Enterprises with annual turnover between R5 million and R35 million can choose any 4 of the 7 elements as the basis for their rating.
Generic Entity:
Enterprises with annual turnover above R35 million will be scored on all 7 of the elements. |