Adopting BBB-EE practices may be the answer for struggling businesses: PMB Chamber
ECR.CO.ZA / 19 MAY 2020 - 17.35 / LAUREN BEUKES
The Pietermaritzburg and Midlands Chamber of Business say adopting BBB-EE practices may be the answer for struggling businesses to survive the lockdown.
CEO of the chamber - Melanie Veness believes Broad-Based Black Economic Empowerment as a policy can assist the KZN economy's recovery from the effects of the COVID-19 pandemic.
She says business owners will have to be creative in developing survival techniques - and making sure they are BBB-EE compliant may be one way.
"It's difficult to balance health needs and economic needs and it's not a great choice for anyone to make. I think we at the point where we have to make that decision."
"We have lost several businesses already and there are plenty whose futures are hanging in a balance and I'm afraid if we don't open up the economy now then might not have much of one to open," she said.
Veness adds for it to work - the government's BBB-EE requirements need to be relaxed.
She says given that cost, containment is a business imperative at this time, and it's expensive to maintain a BBB-EE rating and valid certificate.
"The question that should be asked is, is there any merit in a relaxation of certain BBB-EE requirements in the face of the COVID-19 pandemic."
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER