Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Amended Code Series 000: Practice Note 1 of 2018Statement 000 - Youth Employment Service Initiative4. Calculation of Y.E.S Targets |
| 4.1 | Generic Entities: |
| 4.1.1 | Targets per annum for Generic Entities will be the Higher between (i), (ii) and (iii) below: |
| (i) | 1.5% of the Y.E.S Measured Entity’s headcount in the preceding year - This is based on the last day of the Financial Year End that has been used for Measurement for BBBEE Verification; OR |
| (ii) | 1.5% of the Y.E.S Measured Entity’s average Net Profit After Tax (NPAT) from South African operations in the immediately preceding three years, converted to a headcount number by dividing that NPAT number by R55,000 - This is linked to the Financial Year End of the Entity that is used for Measurement for B-BBEE Verification; OR |
| (iii) | a target as determined in Table 1 - Annexure A – As per gazette 41866 relates to the Total Revenue for the latest completed Financial Year End |
| 4.1.2 | For Generic Entities that make a Total Average Loss over the immediately preceding three years, the Calculation for NPAT will be done in accordance with the calculation done for determining Enterprise Development, Supplier Development and Socio Economic Development Targets (Indicative Profit Margin). The exercise of determining the higher of (i), (ii) and (iii) will still apply. |
| 4.1.3 | For Generic Specialised Entities that do not have an NPAT, The Higher between the Target of Headcount (i) stated above or Table 1 – Annexure A as per gazette 41866 will be used to determine the Entity’s Target |
| 4.1.4 | For Generic Entities that have been trading for less than 3 years, The Higher between the Target of Headcount (i) stated above or Table 1 – Annexure A as per gazette 41866 will be used to determine the Entity’s Target |
| 4.2 | QSEs AND EMEs |
| 4.2.1 | These entities target per annum are based on headcount numbers as determined in Table 2 - Annexure B - This is based on the last day of the Financial Year End that has been used for Measurement for B-BBEE Verification |