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Fast-tracking key employees and developing existing staff are main tactics used to achieve BEE targets
South African privately held business (PHB) owners believe that black economic empowerment (BEE) is an important factor in terms of winning new business, with 61% of PHBs affirming this statement. This figure has remained fairly constant since 2008 (59%), and only 2% down since 2009 (63%).
This is according to the 2010 International Business Report (IBR) by global audit, tax and business adviser Grant Thornton, which surveys more than 7 400 PHB owners across 36 economies.
When the South African data is assessed regionally, it is interesting to note that BEE is far less of an issue in KwaZulu-Natal (53%) in terms of winning business, while Eastern Cape (66%), Gauteng (65%) and the Western Cape (61%) rank BEE as an imperative.
Tony Balshaw, managing partner at Grant Thornton East London, says: “The past 36 months have seen a similar level of attention on broad-based BEE [BBBEE] implementation, with most PHB owners citing the issue as important.
“However, we believe that surviving the tough economic conditions was the primary focus in most companies over the past 18 months, rather than businesses giving specific attention to the BBBEE Codes.”
When asked to rate the importance of each element of the BBBEE scorecard to their business, skills development (48%), employment equity (39%) and management (36%) were ranked the highest.
The elements of ownership (35%) and socio-economic development (34%) followed closely behind; with preferential procurement (31%) and enterprise development (27%) being cited as the least important factor in the BBBEE Scorecard, in terms of PHB business practice.
Grant Thornton IBR 2010
Articles 
Other Strategic importance of BBBEE scorecard elements
Other Strategic importance of BBBEE scorecard elements
Friday, 09 July 2010 09:43
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