| How can BEE help me? |
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| Monday, 11 September 2006 11:16 | |
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I recently had the opportunity of speaking at the Jo'burg Small Business Week. During the presentation a black lady asked me a question: "ťI want to go into business - how can BEE help me? " I
found this an interesting question and gave the following response:
"The Codes do not specify direct help - even for black businesspeople.
All they do is guide government and business in how they should operate
to further the aims of black economic empowerment. Unfortunately you
will not get a direct benefit from BEE to help you start your business.
You well have to design a business plan, and obtain finance and other
assistance from other agencies, e.g banks, SEDA etc. The B-BBEE act is
not the one that is going to run your business for you. If, on the other hand, you already have a business, you are in a good position to get more business, because businesses do want and will want to do business with a predominantly black women owned business - subject to you offering the same or better products and services as your competition. They will earn extra BEE points by purchasing from your business. There is also a possibility of getting assistance, in starting up a small business, from other companies. If you have a good business plan, you could appeal to companies for assistance under their enterprise development programs. All companies will earn BEE points by assisting businesses that are black owned or have a high BEE score. There is a scarcity of suitable businesses that qualify under the enterprise development codes. If your business plan shows that assistance will give the business a genuine improvement, then businesses will be prepared to invest time, effort or money in the business. |
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| Last Updated ( Friday, 20 April 2007 12:47 ) |
| Impact of BEE on your Business - EconoBEE Newsletter - 10 May 2012 + Full Story |