How much does BEE certificate cost?

How much does BEE certificate cost?

PLEASE NOTE: CIPC B-BBEE certificates are free of charge. CIPC only provides B-BBEE certificates to Exempted Micro Enterprises; turnover of no more than R10 million. A certificate is only valid for a year and cannot be renewed.

Who can issue a BEE certificate?

Professional accountants or accounting officers may issue these certificates, but they must be sure that the enterprises qualify before doing so, to avoid falling foul of the codes and being seen as undermining the spirit of the BBBEE Act.

What is BEE certification South Africa?

Being a Broad-Based Black Economic Empowerment (B-BBEE) compliant business is a certification that all businesses in South Africa should have. There are also scorecard and business incentives for enterprises that are 100 percent compliant and with a B-BBEE certificate, you’ll be qualified for grants and financing.

What is BEE certificate in South Africa?

A Black Economic Empowerment (BEE) certificate is a document that spells out the level at which a company complies with the BEE initiative. The certification lists various critical information including the name of a company, the address as well as the details of registration of the company assessed.

How do you become BEE compliant?

Follow these 10 steps to a compliant BEE certificate:

1. UNDERSTAND AND EDUCATE YOURSELF ABOUT B-BBEE.
2. UNDERSTAND HOW BEE AFFECTS YOUR BUSINESS.
3. UNDERSTAND THE LEGISLATIVE REQUIREMENTS FOR YOUR BUSINESS.
4. ASK A SPECIALIST.
5. USE THE CORRECT TOOLS.
6. UNDERSTAND THE INDICTORS FOR SCORING POINTS.
7. KEEP A RECORD OF EVERYTHING.

How do I become BEE compliant?

Does Bee work in South Africa?

Broad-based black economic empowerment (BEE) is a government policy to advance economic transformation and enhance the economic participation of Black people (African, Coloured and Indian people who are South African citizens) in the South African economy.

Do You need A B-BBEE certificate for a small business?

For a business with a turnover of less than R10 million, a B-BBEE certificate is not required.   Customers can complete an Affidavit, signed by an Commissioner of Oaths, and hand it instead of the B-BBEE certificate.

What was the Bee act in South Africa?

In 2003 the South African government introduced the Broad-Based Black Economic Empowerment Act 53 of 2003 (the BEE Act) in an attempt to address the inequalities suffered by black South African citizens as a result of the apartheid regime.

What are the sectors covered by the Bee Act?

The BEE Act also makes provision for the issuance of sector-specific codes of good practice, such as the agricultural, financial, information and communication technology, property and tourism sector codes. These codes, rather than the generic codes, apply to the respective industries.

Which is a qualifying small business in South Africa?

Entities whose turnover is more than ZAR10 million, but less than ZAR50 million are regarded as qualifying small enterprises (QSE). Entities with an annual turnover of more than ZAR50 million are regarded as large enterprises.