BEE Partner, South Africa Economy Watch

Welcome to 2009. We are very much looking forward to this coming year. We have many new projects planned, great ideas that are set to work extremely well and fantastic prospects for 2009.

In addition to all the exciting plans we have, we believe this year is going to be a very exciting BEE year with many aspects changing, not to mention all the political action.

BEE Implementation in 2009

• 2008 saw a big expansion in BEE certificates - this year will be different. It will no longer be good enough to have a certificate. Companies will need to get scorecards that have enough points to satisfy their customers.
• Verification of BEE status for companies will change substantially - hopefully verification agencies will be accredited, but more importantly proper preparation will be vital in order to get a good verification. The most effective way to do this is with EconoBEE V3.
• BEE Charters - we don’t like the idea of charters as we feel it gives some companies an excuse not to implement BEE because they are waiting for a charter. We suspect that the charters will continue to be delayed and will have lots of controversy when they are finally gazetted.
• Corporate BEE Pressure will increase. Corporations will focus heavily on corporate governance. If they do not implement BEE properly they will start losing credibility. Corporations will need to follow the BEE codes extremely accurately to avoid any public embarrassment from press, businesses and government.
• New Government changes to BEE - We feel that B-BBEE is not likely to be changed. The political leaders talking about changes are suggesting changes that are more closely linked with implementing B-BBEE as intended, rather than scrapping the entire concept.
• Companies who have 2nd and 3rd generation scorecards will start focusing on earning BEE points in a very cost effective manner. They will also spend less effort on verification but more on earning points and collecting documentation.
• A BEE Scorecard will become a norm when measuring the quality of a company - e.g. a construction company. If all points or a high score is earned in Skills Development it will indicate an investment in their staff and quality workmanship. If all points or a high score is earned in Enterprise Development and Socio-economic Development indicates an investment in the community and will more likely be a good company compared to a company that has not earned well in Skills Development.
• The number of points a company has will be used as a gauge of competence as well as an advantage when selling products.
• Sustainability: many companies are getting involved in sustainable development and the environment. They realize that BEE is a sub-set of sustainability and their bottom line will benefit as a result.

On the EconoBEE Side

• EconoBEE V3 - our latest version of our very popular EconoBEE Scorecard BEE Scorecard rating tool is set to enhance the way businesses do their BEE Scorecards.
• EconoLog is the ultimate BEE logging tool designed to ensure every item on the scorecard is calculated. EconoLog reduces the cost of earning BEE points by taking into account spend that has already happened.
• 10 Steps to BEE is our tried and tested methodology. Our simple 10 step approach takes into account each and every aspect of your BEE journey which helps you strategically implement BEE in a cost effective manner.
• Training, we have many new courses planned for 2009. In addition our BEE workshops are a must for anyone who needs to understand BEE in a practical sense.
• EME’s - businesses below R5 million can get an EME Pack processed quicker than ever. Contact us and we will make sure you get the status you deserve.
• Consulting - we focus on the business side of BEE compliance. If you need a consultant who knows how to earn points give us a call.
• BEE Associates - make a profit while selling our BEE products.
• BEE Consultants - become an EconoLog Implementer. Consult to your clients with EconoBEE’s powerful tools.

BEE in 2009 is going to be very different to 2008. Start earlier to ensure you get ahead of the pack because more than ever a BEE scorecard and the points you achieve will determine the success of your business.

Possibly related posts: (automatically generated)
BEE as we know it will change in 2009

• Shaping a new breed of South African manager for the global challenge part 11
• BEE Capital Structure and Expenditure Calculation part 2
• Using strategy to play the globalisation game
• How about selling Assets to your Black Partner? Will it award for your BEE score?
• Black Economy, how to measure score for Company development
• Black Economy Empowerment Employment Equity
• BEE Skills Economic Development Calculation and Practical
• BEE Codes and Economic Sustainability Resend
• Bee Job Employee Ownership Recognition criteria
• Modern Money — Asset and Liability