Some of the steps that you can implement to earn points for the Priority Elements using the Amended Codes
- The priority element status is 10% (40% of 25% Black unencumbered ownership target) which means that there must be a minimum of 10% unencumbered Black ownership in the Measured Entity
- Any debt linked to this Black equity must be managed so that over a graduated period of 10 years, at least 40% of 25% (10%) of the value of the Measured Enterprise is unencumbered Black equity.
2. Skills Development
- The priority element status is 8 points (40% of total 20 points)
- Category B,C and D learnerships are now essential
- You must register with a SETA and submit your Workplace Skills Plans
- Target bursaries, particularly with Black people who could become your future employees
3. Procurement (Supplier and Enterprise Development)
- The priority element status is 40% of each of the targets in each category
- 9 points are available for Procurement with 51% or more Black Owned Businesses based on a target of 40% of total procurement spend
4 points are available for Procurement with 30% or more Black Women Owned Businesses based on a target of 12% of total procurement spend
- Review your supplier list for suppliers who have achieved a low recognition level and who do not have any black ownership
- Approach your suppliers who are not rated to encourage them to undertake a verification engagement
- Identify the products and services that you can purchase from alternative suppliers
- Approach your suppliers who have black ownership to determine whether they could supply you with some of the products and services you need
- A black owned supplier can also be used for supplier development and allows you to help them to supply exactly what you need.
All material subject to our Legal Disclaimers.