What does BEE mean for BnB business?
Did you know that if your business has an annual turnover of less than R2,5 million rand you qualify as an "Exempt Micro Enterprise" (EME).
What does being an EME mean?
- According to the BEE legislation, all qualifying EME's are automatically awarded a level 4 contributor status.
- You don't have to spend any time or significant amounts of money on complying with complex legislation
- All you have to do is prove that you are an EME.
What is in it for me (my business)?
- A level 4 BEE status means that your BnB enjoys 100% BEE procurement recognition.
- Your corporate clients get to count every rand spent with your BnB as 100% BEE / Empowerment spend on their own BEE scorecard
- This helps then with their own BEE position.
- Therefore, this helps you attract and or retain corporate clients.
- You get bragging rights- display your EME level 4 certificate in your BnB to show guests that you are fully compliant and that they can benefit from this.
What does it cost to obtain proof of your EME level 4 Status?
- It varies from between R450 to R1000 excluding VAT.
However, you can contact Collin Smith on info@betterbiz.co.za or 0824632890 to apply for your EME certificate for only R285 incl vat (terms and conditions apply)
What if my BnB is over the R2,5 Million per annum turnover threshold?
- All businesses between R2,5 and R35 million per annum are required to comply with only 4 out of the seven scorecard components.
- Compliance will vary depending on how your business performs against the criteria
For more information and a quote on assistance for businesses over this threshold you can contact Collin Smith on
info@betterbiz.co.za or 0824632890
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