BEE may have been conceptualized for economic equality for all citizens of South Africa but by no means does this mean that businesses will get the bad end of the bet. Many businesses are reluctant to bring on a BEE consulting firm or even think about becoming compliant because they see no reason to it. This thinking is likely to land a business in hot water in the future. If solely to maintain and keep suppliers and clients, BEE should be implemented into a company. It is not an expensive exercise, nor a timely one. A BEE consulting firm will send in a representative to analyse the business and then put together a proposal which can be put into place by the company. Once done, the consultant comes back to assist with getting all of the paperwork ready to submit to the BEE accreditation company.
They are the ones who will do the audit and ensure that all is above board. They have no ties to the BEE consulting firm hired by the company. It may not be a time consuming venture but starting early ensures that companies will be able to take advantage of SETA funding from the government to assist with the initial costs of setting up BEE. An application would have to be made for this funding and to ensure that a company has a higher chance of being approved, the BEE consulting firm should head the charge. This is an area that they deal with at the start of all their projects and have eons more experience to expect a positive outcome.
Making use of SARS is another way that companies can in fact make money from hiring a BEE consulting firm. Tax rebates are given to companies who correctly follow BEE principles. BEE consulting will direct the company correctly and not go into programmes blind. An example of getting a tax rebate would be through the businesses hiring process. Black people and women are already represented in the BEE codes. Hiring this group leads to the business gaining points but with the hire of disabled workers, this also equates to tax concessions.
Every disabled employee hired by the company means that the company can claim back a substantial amount back from their taxes. Money can also be claimed back if businesses hire people for learning programmes as part of a skills development outreach. It is both monetary and skills that will improve the life of someone who has not had this in the past. This ongoing process means that the BEE process will more than pay for itself in the future. BEE consulting will not be a once off thing for the company. The laws in this field change all the time and the BEE consulting firm will need to be kept on hand to assist the company with adjusting for any new amendments. All in all, being a higher level contributor to BEE shows the government that the business is helping towards change for the better in the country. When it comes time to apply for tenders, you can be sure that a BEE company will always land the deal above a non-accredited one.