B-BBEE Enterprise and Socio Economic development solutions
Apart from assisting companies with their BBBEE scoring VITAL SKILLS also structures BBBEE programmes for Supplier, Enterprise and Socio Economic Development ( ESD and SED)
Companies are required to spend a fraction of their nett profit on qualifying projects in order to secure up to 20 B-BBEE points.
Supplier and Enterprise Development Investments
To claim the full 15 points allocated to enterprise development contributions, contributions must:
1. amount to 3% of your Net Profit After Tax ('NPAT'),
2. be aimed at creating and sustaining small Black owned businesses that are or will become suppliers to you.
We manage your grant to ensure that it maximises your points by:
locating qualifying black owned small busineses and start ups or
developing new ones, and then
assisting the benficiaries by incubation,training and mentoring
to become sustainable enterprises capable of offering employment opportunities to others.
Our ACCREDITED TRAINING PROGRAMMES allow us the ideal opportunity to use our programmes to transfer skills in a variety of different sdkills programmes. See here for more details.
Our affiliated training programmes are coupled with incubation and mentoring programmes to;
transfer technical and business skills and knowledge of the core business of the new venture and
enhance this with an incubation period of knowledge investment, mentorship and technical and financial support to the new enterprise.
SED- Socio Economic Development Projects
The key principle of Socio-economic development is for your company to carry out initiatives that result in the beneficiaries having sustainable access to the economy and hence reduce the poverty barrier.
Your company needs to spend 1% of your Net Profit After Tax to earn all the points available.
Costs can be direct or indirect.
Costs are sometimes tax deductable as well.
We often act as a third party in terms of the B-BBEE codes to implement vocational training projects and to source deserving beneficiaries .This ensures that your investment reached the right places and the right people.