The importance of doing a BBBEE cost analysis before embarking on a certificate

In business today it is crucial to get the most out of every idea, option and investment. Getting the most out of an investment in particular is what is predominantly emphasized by businesses. This makes a lot of sense, investing in something should ultimately translate into a return on investment. Like most things associated with business and in the business field, it is very important to get a B-BBEE cost analysis done before deciding to embark on the journey of getting B-BBEE certification. A cost analysis is generally used to determine the true costs of processes or programs (products and or services both tangible and intangible). In this case the cost analysis will be on B-BBEE certification for Qualifying Small to Medium Entities (QSE’) and Generic (Gen) Entities.  It will spare you a lot of time and money as well as other unforeseen issues. Doing a cost analysis will assist you in knowing how much exactly you will be spending or investing in the complete B-BBEE process.  

The intricacies of B-BBEE can be very confusing and expensive at the worst. But B-BBEE consulting agencies like Cenfed work around the clock to ensure that the process is as smooth and hassle free as possible. It also very important to understand that although obtaining a B-BBEE certificate can take a few weeks, maintaining and improving your B-BBEE scorecard is a process of approximately 10 years. Each step in the process comes at a price and this should be clearly understood by businesses and again this is where the cost analysis featuresWith that said, the benefits and importance of the cost analysis will be highlighted below: 

  • You will know exactly what to expect in terms of costs when embarking on the B-BBEE journey. This will assist you in making the final decision on whether to get the B-BBEE certificate or not, and whether your company will be able to afford the costs or not.  
  • You will understand the costs that will be incurred and be able to work out payments together with the B-BBEE consulting agency. 
  • There will be a clear breakdown of costs as well as how often you will need to consult. 
  • Getting a cost analysis done as a Qualifying Small to Medium Entity (QSE’) or a Generic (Gen) Entity assists teams to identify the highest and best return on an investment based on the cost, resources, and risk involved in B-BBEE.  Needless to say, this gives an entire breakdown of what exactly is involved, and organizations will know exactly how much each element will cost them. 

 

Cenfed B-BBEE consulting agency currently offers a free cost analysis to for Qualifying Small to Medium Entities (QSE’) and Generic (Gen) Entities.   

For more information feel free to contact Cenfed and one of our consultants will gladly assist you. 0100409293 Marketing@cenfed.co.za  

 

 

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Client Testimonial

"I would like to thank all the staff at Cenfed/Chamberlink for their professional and friendly service.

We have dealt with numerous BEE verification agencies and have found that Cenfed has a proper procedure that they stick to. We have never experienced the BEE verification process in this manner before and have come to the realisation that Cenfed are doing it correctly.

Thank you for your patience and advice and the wonderful manner in which Yolandi Storm conducted herself with the on site audit.

We would recommend Cenfed to anyone in need of assistance with their BEE verification."

Monique Beets - Accounting Clerk
TMF Construction & Electrical CC