Our Prepare for BEE Verification Conference was very successful. The delegates have given us great reviews and most importantly are confident to prepare for their BEE Verification.
Our "Cost of BEE Compliance" newsletter has been so well received that we have decided to elaborate further with future newsletters - in-particular how to earn the points without the cost. This e-mail address is being protected from spambots, you need JavaScript enabled to view it so we can send you an advanced copy.

Talk around Ownership has been re-opened this last month. Bearing in mind the constant pressure for black ownership, we are happy to announce a breakfast workshop/course which will cover the basics of structuring an Ownership deal.

BEE Charters have recently come under fire for their Ownership targets. Sadly every time these issues arise it slows down the empowerment process. Furthermore it creates a level of uneasiness and unhappiness which again slows down the Empowerment Process.

Some background
The BEE Codes of Good Practice set targets for Ownership at 25% (plus one vote). The Financial Services Charter wants this to be lowered and the CA Charter wants it to be increased. The targets on the Codes of Good Practice reflect a 10 year target starting from 2007. Broad-Based BEE comprises of  7 elements of which Ownership is allocated 20 points for Generic Companies and 25 for QSE's.

Naturally Ownership is a very hard target to determine which is why careful thought went into the targets before it was gazetted.

A few points to bear in mind:

• Ownership cannot be rushed. It will ultimately result in unethical deals taking place which will harm empowerment.
• Other more empowering elements apply to the scorecard - Skills Development, Enterprise Development and Socio-economic Development.
• Ownership is a final measurement of empowerment not a grass roots solution.
• A select few elite individuals qualify for Ownership and not the whole population.

Small businesses are in the very fortunate position to be Exempt from compiling a BEE Scorecard. However being a small business does not mean you don't need to do any work or have any documentation at hand. All small businesses who qualify need to have proof of their status.

The proof required is a confirmation from the accounting officer or auditor or a verification agency which states that their turnover is below the Exempt Micro Enterprise (EME) threshold. If that documentation is in place then they can regard themselves as BEE Compliant.

This is certainly great news for most small businesses because they are automatically allocated a good BEE Status which makes them more competitive and helps their larger customers earn BEE Points.

Recently Keith Levenstein was interviewed by Tony Blewitt on Classic FM. During the interview they spoke about compliance and what needed to be done for Exempt Micro Enterprises - Listen to the interview.

What do you need and how can we help?
EconoBEE has a very short and simplified process. We can offer you the support and documentation required to accurately state your EME Status. For further information, please visit our website, contact us at This e-mail address is being protected from spambots, you need JavaScript enabled to view it or 0861 11 3094.

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