BEE Status
TeamWorks is a Level 4 contributor as an Exempt Micro Enterprise:
The Final Broad Based BEE Codes of Good Practice were gazetted on 9th Feb 2007, along with the Financial Sector Charter and Construction Charter. Statement 000 relates to exempt micro enterprises.
Teamworks Corporate Team Building is classified as an exempt micro enterprise, as the company has an annual turnover of R5million or less. This means that TeamWorks is classified as a level four contributor for your procurement scorecard.
See below for details of the code:
Eligibility as an exempted micro enterprise:
- Any enterprise with annual total revenue of R5-million or less qualifies as an exempted micro enterprise.
- Exempted micro enterprises are deemed to have broad-based black economic empowerment status of a "level four contributor" having broad-based black economic empowerment procurement recognition of 100% under paragraph 6.3.
- Sufficient evidence of qualification as an exempted micro enterprise is an auditor's certificate or similar certificate issued by an accounting officer or verification agency.
Under the new codes, enterprises are obliged to spend 10% of their procurement on Qualifying Small Enterprises or Exempted Micro Enterprises in the first 5 years and thereafter 15% in order to get full marks for procurement!
As an Exempt Micro Enterprise we can help you reach full marks for procurement.
For more information please see the DTI's website:
