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

Codes of Good Practice on Broad-Based Black Economic Empowerment

Amended Property Sector Code

Statement 000: General Principles and General Scorecard as applied to the Amended Property Sector Code

4. Start-up Enterprise
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4.1Start-up Enterprise incorporated within 12 months must be measured as an Exempted Micro-Enterprise under this statement for the first year following their formation or incorporation. This provision applies regardless of the expected total turnover of the Start-up Enterprise.

 

4.2Start-up Enterprise is deemed to have the qualifying B-BBEE Status in accordance with the principles of eligibility of an Exempted Micro Enterprises (EME).

 

4.3In order to qualify as a Start-up Enterprise, the enterprise must provide an independent confirmation of its status.

 

4.4Despite paragraph 4.1 and 4.2, a Start-up Enterprise must submit a QSE scorecard when tendering for any contract, or seeking any other economic activity covered by Section 10 of the B-BBEE Act as amended, with a value higher than R10 million but less than R50 million. For contracts of R50 million or more they should submit the Generic scorecard. The preparation of such scorecards must use annualised data.