By Colette Crichton
Legislation for black economic empowerment (BEE) measurement has been around for well over a decade, having had a major overhaul and numerous nips and tucks since 2007.
Throughout this period of change, a focus that has remained the same is the drive for large, corporate and state-owned entities to integrate small-and-medium-enterprise (SME) businesses into their supply chains, while increasing their discretionary procurement spend on required goods and services, with South African SMEs.
SMEs are very clearly an important driver of the economy (see It's a fact...) and will become even more so in the future.
With procurement from SMEs being inextricably linked to BEE compliance and transformation, the incentive and opportunities are enormous for large organisations to engage with SMEs, however, these entities do not always speak the same language...
Read the full article here: Future economic growth