At times, we may find that there are differences between concepts under the Amended General B-BBEE Codes of Good Practice as well as specific B-BBEE Sector Codes of Good Practice. This is evident when comparing the definition of a Start-up Enterprise under the Amended Construction B-BBEE Sector Codes Of Good Practice which states that a:
“Start-up Enterprise means a recently formed or incorporated Entity that has been in operation for less than 1 year. An entity that was formed and incorporated some time ago, but which has been dormant (non-operational), will qualify as a start-up enterprise for the first year after it commences operations. A start-up enterprise does not include any newly constituted enterprise which is merely a continuation of a pre-existing enterprise.”
It is important for Members to take note of the differences between B-BBEE Sector Codes of Good Practice to ensure that the correct implementation takes place.
Technical Compliance Services are available to guide members on requirements under B-BBEE Sector Codes of Good Practice.