What are the advantages of B-BBEE?

The advantages of successful implementation and compliance to requirements for Broad-Based Black Economic Empowerment are advantageous in many aspects. The B-BBEE skills development categories make sure to build a foundation on which B-BBEE can continue to grow and sustain the South African economy. The primary advantages of successfully implemented B-BBEE requirements include balancing ownership and management control, building up skill sets and socio-economic development.

What are the B-BBEE Skills Development Categories?

There are many ways in which you can meet the requirements of B-BBEE through the B-BBEE skills development categories. Skills programmes, learnerships and accredited short courses are just some of the effective ways in which you can boost your B-BBEE rating by making use of the B-BBEE skills development categories that are available. These training courses range through multiple industries from management development programmes to financial skills courses.

Building Skill Sets

Under the regulations of B-BBEE as an employee at a company you can benefit from the fact that a certain percentage of their annual payroll expenditure is dedicated to developing their own staff members. This advantage includes skills training geared to pass on the necessary knowledge and skills to better complete the tasks you are expected to perform.

There are also requirements in place that ensure the unemployed youth are presented with opportunities to build up their skill sets, aimed at making them more employable. They may even receive training that will equip them with what they need to better create and run their own businesses.

Socio-Economic Development

By empowering an inclusive South African workforce it allows for more reliable enterprise development. Training young South Africans means creating marketing access for all and this in turn benefits all businesses. B-BBEE is self-sustaining in that if you train the youth they will open businesses with whom to trade. Trading with local and BEE compliant suppliers also add towards your own compliance.

The advantages of B-BBEE compliance lay in the social responsibility to rebuild the South African economy as an inclusive effort to better the whole country. If you are struggling to understand the terms of B-BBEE or would like professional help to ensure your compliance contact us at SERR Synergy.

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