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

Codes of Good Practice on Black Economic Empowerment

Integrated Transport Sector Codes

Road Freight Sub-Sector Code

6. Appendix A: Road Freight Sector Owner Driver Scheme Policy

6.2 Key Elements of an Owner-Driver Scheme
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There are certain elements typically required for a successful Owner-Driver Scheme:

•Sponsoring Corporate - provides the business.
•Owner-Drivers - supply service
•Owner-Driver responsibility in respect of the retention and development of the business.
•Finance House.
•Business Advisor (incorporating bookkeeper)

 

A Business Advisor should be an independent party and must be paid a fee, agreed by all parties, which is part of the fixed cost of an Owner-Driver's structure. While the accounting function is essential, Business Advisor's must have specific transportation and vehicle management skills.