As a modern business imperative in South Africa, having the Broad-Based Black Economic Empowerment (B-BBEE) scorecard explained is vital to business success. Also known as simply BEE to many, having the BEE certificate that comes with meeting the requirements of the scorecard is essential to business being able to operate successfully. So here is a brief overview of what is expected in each of the five B-BBEE scorecard elements:
Ownership
Ownership measures the black ownership of your business. The current ownership criteria require businesses to be 51{c4d976c6d7323d399b11046b361722ee07be3129afaeb59624aa397adea1d60f} black owned to be fully compliant.
Management and Control
This element measures the participation of black people in the management and control of your business. Proving that your business includes black people in management is vital to your BEE certification because it proves that you are not involved in fronting practices, and that you are pursuing the true empowerment objectives of B-BBEE.…