FIVE FAST FACTS ABOUT B-BBEE …
and how to turn it into a golden opportunity
Your human capital consultancy can make all the difference when it comes to B-BBEE skills development, training and, most importantly, your bottom line.
When it comes to skills development, many people in business consider compliance with B-BBEE requirements to be a big bother. The over-arching sentiment is often one of, ‘What requirements can I afford to ignore?’. ‘Or how can I find a way around BEE training and beat the system?’.
There is little understanding of the considerable benefits to be gained if you know how to leverage the system to best serve your business and its profitability. And this, while at the same time creating genuine and important empowerment opportunities for people who could better serve your country and your company.
If you have access to the right advice it is possible to leverage your scorecard also, and gain access to a range of support mechanisms to your business and for which the Act makes provision.
With its many variables, B-BBEE can appear to be a minefield, but there are many areas in which you can create a win-win situation – provided you fully understand the learning programme matrix and all its complexities.
Here are five fast facts that you may not have known …
- There are several ways in which you can claim back all your organisation’s training spend.
- The salaries of certain classes of workers in internship programmes are fully covered by the B-BBEE code.
- Not only can you claim salaries – if you are able to offer qualification related experience, there are also a number of ways in which you can claim tax benefits for your company.
- The up-skilling and upliftment of disabled people are often overlooked as an important way to make the world a better place. And equally great is the fact that you, as an employer, can access significant benefits in the form of disability tax allowances.
- The Act makes provision for a youth subsidy component, that is, if you have young learners in your organisation.
So if you are interested in workplace based skills development programmes which will enhance lives and your bottom line, contact us today to talk about the options in store for you.