It is five years since the introduction of the amended B-BBEE codes in 2013 and it felt right when, in late March, the minister of trade and industry issued a notice detailing amendments to some elements of the codes and invited comments on the proposed changes. I took some time to read through the amendments and have noted some noteworthy changes. Key ones include the introduction and B-BBEE recognition of the Youth Employment Service (YES) initiative; further clarification around exempted micro-enterprises and qualifying small enterprises; and my personal bug bear: the enhanced B-BBEE recognition level for generic enterprises. Due to the high cost of compliance and the need to stimulate black-owned small businesses, the codes now allow for all businesses turning over less than R10-million to simply sign an affidavit declaring their black ownership to qualify as a contributor to B-BBEE. For this, businesses 100% owned by black people automatically become level one contributors, and...
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