Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Amended Codes of Good Practice (2013)

Amended Code Series 000: Framework for Measuring Broad-Based Black Economic Empowerment

Statement 000: General Principles and the Generic Scorecard

5. Eligibility as a Qualifying Small Enterprise (QSE)
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5.1A Measured Entity with an annual Total Revenue of between R10 million and R50 million qualifies as a Qualifying Small Enterprise.

 

5.2A QSE must comply with all of the elements of B-BBEE for the purposes of measurement.

 

5.3Enhanced B-BBEE recognition level for QSE:

 

5.3.1A Qualifying Small Enterprise which is 100% Black owned qualifies for a Level One B-BBEE recognition.

 

5.3.2A QSE which is at least 51 % Black owned qualifies for Level Two B-BBEE recognition level.

 

5.3.3A QSE is only required to obtain an sworn affidavit on an annual basis, confirming the following:

 

5.3.3.1Annual Total Revenue of R50 million or less; and

 

5.3.3.2Level of Black ownership.

 

5.4Any misrepresentation in terms of Para 5.3 above constitutes a criminal offence as set out in the B-BBEE Act as amended.