New BBBEE codes present opportunity

April 14, 2015

Mid-sized businesses face a significant challenge in transforming their businesses to comply with the stricter Revised Broad-Based Black Economic Empowerment (BBBEE) Codes that will come into effect on 1 May this year.

However, they should regard it as an opportunity to help grow both their businesses and the South African economy. So says Saul Symanowitz, divisional manager at Sage Pastel BEE123, who adds that mid-range businesses regarded as Qualifying Small Enterprises (QSE) under the Revised BBBEE Codes will need to think of creative solutions to address the new requirements of the codes. QSEs are businesses that have an annual total revenue of between R10-million and R50-million.

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