Verification Options

In terms of the DTI's gazetted codes of good practice for BEE businesses of different sizes are measured differntly. So, the first step in verification is to understand which category your business falls into. Select from the links below to be guided to information that is most relevant to your business.

Turnover less than R5m Exempted Micro Enterprise

Turnover of R5m-R35m Qualifying Small Enterprise

Turnover more than R35m Generic Enterprise

Any business wanting to benefit from their BEE activities will need to prove their BEE status.

There are ways to do this:

1. Self Assessment Letter
2. Verified BEE Certificate

Click here if you would like us to assist you further with verification

Self Assessment

The BEE Codes of Good Practice have allowed for companies to self assess. There are major challenges associated with self assessment.

• Firstly BEE Score calculation is relatively complicated so there is a high risk that companies may calculate their score incorrectly.
• Secondly there is a requirement that any self assessment should be accompanied by sufficient evidence to support the self assessed score.

Verification Agencies are suggesting that a full file of the documentation needed for an official verification is required in order to accept a self assessment. This has two issues. Firstly this means disclosing confidential information to customers and secondly it is likely to increase the cost of verification for any company accepting Self Assessments.

For example, Should your company choose to call on the services of an accredited Verification Agency then there will be a associated cost. Should this Verification agency then need to assess all the files of your suppliers that have submitted self assessments, then that associated cost could increase substantially.

Our conclusion is that, until an effective way to manage self assessments is commonly agreed upon, simply request Verified BEE Certificates.

Verified BEE Certificates

Verification Agencies exist and are able to issue valid BEE Certificates.

SANAS is in has accredited 22 Verification Agencies but will continue to announce new accreditations as they take place. As of 1 July, any Verification Agency that has registered with SANAS and recieved their pre-assesment letter may issue a valid BEE Certificate.

• Click Here to view the list of accredited agencies, or
• Click Here for more information about the validity of existing BEE certificates

Pricing and service levels vary as the industry is still establishing itself. The Verification Agencies will take some time to work out their pricing models as the requirements involved in the verification process are still being finalised.

Our advice is to secure at least 3 quotes and to take into consideration the Varification Agencies ability to deliver before choosing your BEE Verification service provider.

Veriquote.co.za

Veriquote offers the only free comprehensive solution source your BEE Verification quotation. You can request a QSE or Generic Certificate through Veriquote.

Simply input your businesses details securely and wait for notifications by email of quotations from the country’s leading Verification Agencies.

Compare them on price, quality and service before selecting your preferred supplier.

Click here to request a free quotation online

R0m-R5m annual turnover - Exempt Micro Enterprise

Exempt.co.za

If your business has a turnover between 0 and R5 million it automatically qualifies as a 100% contributor towards BEE and qualifies as an Exempted Micro Enterprise. Get your exemption certificate today and offer your clients 100% recognition for any money they spend on your business. Exempt certificates range from R350-R799 depending on your company type.

Businesses that have a Black Shareholding of more than 50% automatically qualify as 110% BEE contributers.

R5m – R35m annual turnover - Qualifying Small Enterprise

If your business turns over between R5 million and R35 million per annum then it is measured against a Qualifying Small Enterprise (QSE) BEE Scorecard.

The QSE screcard allows medium sized businesses to measure themselves against the BEE codes by calculating their Score in their 4 highest scoring categories out of the 7 pillars of BEE.

BoxSmart offers a total support service for QSEs. This includes the BEE Management System, Information on DVDs, A self assessment score calculation tool, 12 months inclusive email support and an annual BEE verification. Prices range from R7,900 to R10,900.

BoxSmart.co.za

More than R35m - Generic Enterprise

Companies with a turnover greater than R35m must go through a full BEE verification that includes measuerment in terms of each of the 7 pillards of BEE.

It is advisable to use a verification agent that is SANAS accredited, however due to the large quantity of information required many companies will complete a pre-audit or verification preperation program. This helps companies to understand their current BEE status, look for quick-fixes (where possible) and collect the information required for BEE verification

Click here if you would like more information about verification-preperation services

If you need any further information BEE Verification please click here. to send us your details and we will contact you