Over the years, the transformation within BEE level 1 companies has reached impressive heights. Like most business sectors, there are still systems that continue to plaque these companies, but what remains encouraging is the many advantages of being listed as a BEE level one company – and here they are:
The government has seen tangible growth and transformation from this sector. Recent statistics showed an impressive record of 60 black owned businesses and 51 were women owned. This is a clear sign of progression, unlike business institutions whereby entrepreneurs are stagnant.
2. BEE Scores:
The clients and suppliers rating, increases each other’s scores. Clients have seen real value when operating from level one hence they can claim more.
3. BBE Certificate
Companies that possess this certificate create many viable opportunities. Such companies usually have a staggering turnover of 10 million to 50 million.
Another benefit includes moving in different sectors such as, being in good standing to apply for tenders and working with bigger companies. With only eight levels of BBE, level one remains the most important.
5. Service providers and clients enhance each other’s scores when working together.