The DTI has released the revised QSE B-BBEE scorecard for public comment! Here's why you need to familiarise yourself with these amendments
The Department of Labour isn't the only government department that's busy introducing reforms. The Department of Trade and Industry (DTI) is busy too.
On Friday, 10 October 2014, it published the Revised B-BBEE Scorecard for Qualifying Small Enterprises (QSE) as a follow up to the Revised Generic Codes of Good Practice it published in October 2013. If you want to comment, you have 35 days to do so.
We urge you not to dismiss this matter as just another 'pointless' government exercise. The revised scorecard has far reaching consequences for your company, especially if you make an annual turnover of less than R50 million.
Read on to find out more about the revised QSE B-BBEE scorecard so you'll move a step closer to compliance.
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Here's how the revised QSE B-BBEE scorecard affects your company
According to experts at Transcend Corporate Advisors,
the revised scorecard's release means companies that make an annual turnover of less than R50 million may have to change their business strategies to comply with the proposed amendments on it.
So, if you're a qualifying employer (your turnover is less than the R50 million threshold),
you may have to re-assess and revamp your traditional way of doing business so you can earn the desired B-BBEE credentials.
The experts say, in terms of the revised scorecard, you need to familiarise yourself with the following areas:
Compliance with ownership as a compulsory priority pillar;
How to address supplier development in a meaningful and sustainable way; and
Now that you know the revised QSE B-BBEE scorecard is out for public comment, familiarise yourself with it and think about how you'll comply when the amendments are finalised.
PS: If you have questions regarding the scorecard, ask our experts at
Thoughts and high-level strategy as to how to transition from only having to consider compliance with some of the pillars of the scorecard to having to comply with all the pillars of the scorecard and how to mitigate a drop in B-BBEE compliance levels.
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