BBBEE
Broad Based Black Economic Empowerment and Vuleka
Are you a small or medium enterprise? Earn BEE points by making a donation to Vuleka.
SMME’s
can earn 25 points out of a required 65 points by making a contribution to a
worthy cause that benefits previously disadvantaged individuals. Because all the
children at Vuleka are previously disadvantaged, Vuleka qualifies under the new
Broad Based Black Economic Employment (BBBEE) guidelines to earn your SMME
valuable points.
The scorecard has 7 categories – if your turnover is between R5 and R35 million,
you choose 4, each of which counts 25 points so that your maximum score could be
100 points. (and remember, you only need 65). The categories are: socio-economic
development, enterprise development, preferential procurement, skills
development, employment equity, management control and ownership.
As a
business owner, you will earn points under the ‘socio-economic development’
category on your BEE scorecard when you donate to Vuleka School. Vuleka will
issue you with a letter that verifies that we are compliant, as well as a
receipt for you to submit to get your points. As Vuleka is a registered
non-profit organisation (NPO) your donation is also tax-deductible so you score
twice in one go!
If you donate 1% of your net profit after tax you will score 25 points, as long
as the registered NPO is compliant and you submit your supporting documentation.
This means if your profit is R1 million after tax, you only have to donate R10
000 and you will score your full 25 points.
Although companies with a turnover of less than R5million now automatically
qualify as BEE compliant, many choose to complete a scorecard as a gesture of
goodwill or to gain competitive advantage. A different scorecard applies to
companies with a turnover of more than R35 million.
The new broad-based BEE legislation incentivises all businesses, including small
and medium enterprises to become part of the transformation process without
undue pressure on their productivity.
Your donation to Vuleka accomplishes exactly what the new legislation aims to
address. You are enabling a new generation of children to get a good education
which will enable them to escape the poverty trap. You are educating the future
workforce of the country. And if you consider that 65 points make you fully BEE
compliant, then your contribution will also earn you more than 1/3rd of your
required points!
Contact:
011 447-2093
083 267 7063