In October the Department of Trade and Industry (DTI) launched the revised B-BBEE Codes of Good Practice. The gazette followed shortly thereafter signalling the start of a 60-day public commentary period in which business and members of public could submit their comments on the revised Codes for consideration. The commentary period lapsed on Wednesday, 5 December 2012.
Business Partners Limited formally submitted comments with the DTI on behalf of the SME industry with a special focus on the impact on small and medium businesses. We send a big thank you to all our clients that participated in a client survey conducted on Monday, 3 December 2012. Your comments provided valuable insight on the expected effect of the revised B-BBEE Codes on your businesses.
Summary of proposed changes
Key changes include: adjusting the B-BBEE scorecard in accordance with Government’s key priorities; reduction of Scorecard elements from 7 to 5; enhanced recognition status of black-owned EMEs; introduction of threshold requirements for priority elements of ownership, skills development, and enterprise and supplier development; and the revision of thresholds for Exempted-Micro Enterprises, Qualifying Small Enterprises and Large Enterprises.
Please take note of the following revised B-BBEE Codes of Good Practice (download).
What lies ahead?
The DTI will commence with the process of consolidating all comments submitted by relevant stakeholders. This process could take two to three months based on the DTI’s revised B-BBEE Codes presentation held on 17 October 2012 in Pretoria. Business Partners Limited will provide feedback to our clients once the B-BBEE Codes of Good Practice have been finalised.