Calculate My BEE Score
Understand How to Calculate Your BEE Score and Benefit from Compliance
Do you need help to calculate your BEE score? Do you want your firm to be compliant for all the priority elements? Then make use of our consulting services. It is essential to understand how to calculate the BEE score and how to achieve a good score if your firm wants to reap the economic benefits of being B-BBEE compliant.
For one, in the new BEE codes, the socio-economic development element has not changed regarding the point’s value, but various other elements have become more important. Management control no longer just contributes 10 points to the score. Instead, it has a value of 15 points. Ownership now counts 25 points, whereas, under the old codes, it carried a weight of 20 points. It does not matter if you have a small business, you must still undergo assessment for ownership in order to score well.
Preferential procurement and supplier development now form one element and count a full 40 points towards your BEE compliance. Therefore, if you are still working on the 35 points of the past to calculate the BEE score, your firm will fall short of the compliance requirements. You will now want to focus on supplier development more than in the past.
Skills development has become one of the elements in which you can score well, as it now carries 20 instead of 15 points. We offer various initiatives to help you perform well on skills development, and benefit from tax rebates and incentives for doing so.
When you calculate your BEE score, keep in mind that the priority elements are skills development, ownership, and preferential procurement. You need to gain at least 40% of the minimum target set on the above elements if you want to avoid dropping a level on the overall score.
Success with skills development will help your firm to do well regarding compliance and apart from the tax benefits, you will help to improve the skill levels of your current employees, future workers, and the general employee profile of people in South Africa. As such, you make a positive contribution to the South African economy and your company’s growth potential.
Did you know that your company could earn 8 points for spending 6% of your payroll on the training of black people? You can even earn more points if you invest 0,3% of the payroll on learning programmes for black disabled employees. In addition, you can earn 4 points if 2,5% of your workers participate in the learner programmes, with another 4 points to be earned if 2,5% of the employees in your company are unemployed black learners. Finally, you can gain another 5 bonus points if you employ the unemployed learners after they have completed the learnership programmes.
Skills development investment can be counted towards your supplier and enterprise development. It is thus possible to gain excellent compliance by focusing your efforts on the skills development priority element. Make use of our services and learn how to calculate the BEE score, make the most of the priority elements, and benefit from the various tax incentives for doing so.