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BBBEE Solutions
Based on having been involved in BBBEE from its inception, our knowledge and experience has enabled us to develop appropriate BBBEE solutions for most businesses. No matter how small or big the company is.
Our solutions are based on a few key requirements:
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The solution must be simple to implement and easily understood by the owners, directors and key management within the business;
Our solutions include:
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The objective is to ensure that each solution will “fit in” with the key business principles that should exist within each business;
3
The cost of implementing the solution should be recoverable, whether it be from other cost savings, tax rebates/incentives or other forms of incentives.
1. Ownership
The Amended BBBEE Codes of Good Practice include many forms of BBBEE ownership recognition; namely
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Direct Ownership
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Broad-Based Ownership Structures
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Employee Share Ownership Structures
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Private Equity Fund Solutions
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Trusts
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Preference Shares, etc.
All the above potential solutions come with different advantages, disadvantages and costs. All of these various issues need to be considered in detail together with the business’s short and long term strategies. We have experience in all these various solutions and can develop any of the above solutions to ensure that they become part of the business's short and long term strategies.
3. Enterprise and Supplier Development
Smart Opportunities (Pty) Ltd is the original founding company within the SMART GROUP. Smart Opportunities Vision has always been to make a positive contribution to the establishment, development and sustainability of black entrepreneurs or black owned businesses. Since our inception in 2008, we have raised in excess of R30 million which has been used to assist in the development of deserving black business entrepreneurs. Together with our Private Equity Funds, we have further assisted black entrepreneurs in acquiring businesses with the needed Equity funding required in establishing new business opportunities.
For further details regarding Smart Opportunities, click here.
5. Skills Development
Having being involved in Skills Development since 2002, we are well versed in identifying the appropriate Skills Development Solutions which meet all the requirements of the business's needs. The quantum of possible solutions are endless, however, when combined with the business's Workplace Skills Plan “WSP”, we are able to ensure that the needs of both BBBEE and the WSP are in alignment and are achievable to the ultimate benefit of the business.
2. Procurement
With the current impact of Covid on the business community, cashflow has become extremely tight and companies are having to look at alternate solutions to access cashflow. Within the South African context, the BBBEE implications of importing goods and services has become more onerous. The ability to source alternate products from BBBEE compliant companies is both difficult and onerous.
As a result of the above issues, the SMART GROUP has been involved since January 2019 in establishing a solution to these problems. Together with our strategic partners, we offer a full suite of inventory solutions that remove the friction points in the supply chain to unlock the value tied up in working capital.
4. Social Responsibility
There are many worthwhile Social programmes in the market place, however, in many cases, the necessary administration and paper trail to evidence these initiatives. The Smart Group has identified various opportunities where an impact can be made, however, we have chosen to focus on Sport as we believe that through sport, opportunities can be created for promising youth. As a result, the SMART GROUP was instrumental in the creation and establishment of the Sports Development Trust.
For further details regarding the Sports Development Trust, click here.