Pretty much all business ventures in South Africa ought to have a BEE certificate and a great scoreboard. This helps in generating new business opportunities, it gives you more access to state businesses and it helps you in securing your existing business. The BEE rating system was cleverly created one of its most important principles being that a business with a BEE certificate will always look to do business with a company which also has such a certificate because that would bring on more points.
The certificate has to be renewed every year thorough a BEE verification system by http://www.amaxbee.co.za/. The verification involves evaluating evidence relating to the 12 month period of collecting points. You need to bring evidence for each and every point accumulated. You can imagine that the documentation involved is rather stuffy, and companies often get overwhelmed with the process or simply do not have the time to deal with it as they should. On the other hand, they cannot afford to be sloppy about the process, either, so they make sure of the help of BEE verification services that help them get their documentation together. For companies which lack the time or personnel needed for the task, such help is priceless.
Even small companies can get a BEE scorecard. The Micro Enterprises (EME) which have a turnover of less than R5 million are exempt for the BEE codes and they automatically get a Level 4 or 3 score if they are owned by black South Africans. A Qualifying Small Enterprise (QSE) usually has a turnover significantly higher than R5 million and they have the option of getting a higher score than their automatically granted status. The interest of the government was to persuade bigger companies to step up their game in making black people part of the economy, helping them skills needed to integrate in the society, this being the reason that big companies are the target of the BEE program. The rating system and all that the verification process involves is not exactly easy, but companies have already understood that they cannot afford not to be part of the system and leave other companies have a significant upper leg in the South African economy.
The black Economic empowerment program has been fruitful in South Africa, allowing millions of blacks to have access to areas of the society they never had before and to acquire skills that enable them to get economic perspective.