There can be no doubt that your Broad-Based Black Economic Empowerment Scorecard has become your key to unlocking the doors to business in South Africa. Though recent legislation will make it easier to do business with government, as it will now be unnecessary for fundamental state-owned entities to rely solely on BEE-compliant companies during procurement procedures, the fact remains that B-BBEE is here to stay.
So how does one go about maximising your B-BBEE Scorecard, so that you can do business in South Africa? The first port of call, according to Angie Lanham-Love, CEO of Lanham-Love Consulting, a 73.57% Black Owned Level 2 BEE Exempt Micro Enterprise that specialises in assisting companies in developing an effective consulting strategy for maximum B-BBEE benefit, is, of course, a strategic approach.
“Aiming for Level 1 B-BBEE is the ideal, obviously,” she says. “But sometimes, this is not the most strategic approach. In order to implement the amended codes effectively, it is imperative that your transformation strategy aligns with your business strategy. To do so, executive involvement is required, for a top-down strategic solution.”
“A vital part of Lanham-Love Consulting’s approach to the B-BBEE Scorecard is to align with what your company is already doing,” says Lanham-Love. “This is part of what we call our ‘best fit’ strategy – if you already have projects and solutions in place, it does not make sense to simply discard and replace, so to speak. Lanham-Love Consulting excels at unpacking your needs and challenges in terms of a B-BBEE Strategy, and working with you and your executive team, the key decision makers, to fill in those spaces where you can optimise your B-BBEE spend.”
“We do this on an ongoing basis,” says Lanham-Love. “Following an in-depth assessment of where you are succeeding, where things have been sliding, and where there is space to do even more, we manage and implement your B-BBEE strategy together over the year. We run quarterly reviews and gap analyses and provide board pack reporting around your B-BBEE strategy and its effectiveness. We workshop and take corrective action as and when it is needed – no waiting until the end of the year to pinpoint where things could be done better!”
“Myself and my colleagues at Lanham-Love Consulting truly see B-BBEE as an investment in your people, in your business, and in South Africa as a whole,” says Lanham-Love. “We know that, when done right, B-BBEE can truly uplift and empower, creating a benefit for everyone involved in every step of the process. By approaching B-BBEE in a strategic way, you can innovatively embrace and integrate transformation to the point of business growth and development. B-BBEE should not be seen as a cost of doing business – it’s one of the best pathways we have to an empowered and integrated future South Africa.”
Whether your business needs some fine tuning to make your B-BBEE Scorecard really shine, or whether you need a customised solution to be developed, Lanham-Love Consulting is ideally positioned to ensure comprehensive B-BBEE compliance. Speak to our experts today to start maximising your B-BBEE Scorecard.