BEE Certificate Requirements
If your company has an annual turnover exceeding R5 million, it is imperative that you apply for a BEE Certificate in order to improve your competitive advantage in the local market place. Companies with an annual turnover of less than R5 million are exempted and need only apply for an EME (Exempted Micro Enterprises) Certificate.
Small enterprises with a turnover of between R5 million and R35 million need to select four of the seven BEE elements and should provide BEE plans and a Compliance Certificate from an accredited BEE verification agency such as us here at BEE Empowered
Lastly, BEE certificate requirements for companies with an annual turnover exceeding R35m require compliance with all seven elements of BEE and these companies need to provide a BEE plan together with a Compliance Certificate obtained from an accredited BEE verification agency such as BEE Empowered.
BEE Certificate application
The seven BEE requirements for rating purposes are:
- Ownership
- Management & Control
- Employment Equity
- Skills Development
- Preferential Procurement
- Enterprise Development
- Socioeconomic Development
BEE Certificate renewal
BEE Certificates are valid for one year and need to be reassessed on an annual basis. This can be very useful for companies who have improved their BEE status during the year and as such qualify for a higher rating on their renewed BEE Certificate. To find out more about BEE Certificates or to verify your BEE Status, please contact us today!
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