BEE AFFIDAVIT - SWORN AFFIDAVIT – B-BBEE EXEMPTED MICRO ENTERPRISE
The Importance Of having an Updated BEE Document for Exempt Micro Enterprises
For companies in South Africa that qualify as Exempt Micro Enterprises (EMEs), having an up-to-date BEE exemption affidavit is essential for doing business with government sectors and public entities. An EME is a small enterprise with an annual turnover of less than R10 million that is exempt from certain B-BBEE requirements.
The SWORN AFFIDAVIT – B-BBEE EXEMPTED MICRO ENTERPRISE document is an affidavit template that EMEs can use to declare their status as an exempt micro enterprise. This affidavit template is valid for 12 months from the date signed by a commissioner of oaths.
The primary benefit of having an up-to-date BEE exemption affidavit for EMEs is that it provides access to tender opportunities in the government and public sectors. The better the BEE score, the higher the chances of winning a tender.
At our company, we understand the importance of maintaining an up-to-date BEE exemption affidavit for EMEs. Our team can assist with the process of obtaining and updating this crucial document, allowing your business to focus on other important operations.
If you are an EME and require a BEE exemption affidavit or certificate, contact us today. We specialize in providing professional and efficient services for businesses in need of BEE-related documents and affidavits. Don’t miss out on valuable tender opportunities – ensure that your BEE exemption affidavit is up to date and valid. Visit our page to learn more about our services related to BEE affidavits and certificates.
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Facing difficulties in filling out the BEE form? We are here to help, as your business partners. Please do not hesitate to get in touch with us and we will provide you with free assistance.
If you have the time and are interested in learning more about this topic, please continue reading.
The Broad-Based Black Economic Empowerment (BBBEE) Act is a South African law that aims to promote economic empowerment of black people. One of the ways that the BBBEE Act does this is by requiring businesses to obtain a BBBEE certificate. However, there are certain businesses that are exempt from this requirement. These businesses are known as exempted micro enterprises (EMEs).
BBBEE Sworn Affidavit Template
An EME can obtain a BBBEE exemption by completing a sworn affidavit. The affidavit must be signed by a commissioner of oaths and must include the following information:
- The name and address of the EME
- The date of incorporation of the EME
- The annual turnover of the EME
- The ownership structure of the EME
What is an Exempt Micro Enterprise?
An exempted micro enterprise (EME) is a business with an annual turnover of less than R10 million. EMEs are automatically exempt from the requirements of the BBBEE Act. This means that they do not need to obtain a BBBEE certificate or comply with the BBBEE Codes of Good Practice.
A BEE certificate is a document that proves that a business complies with the requirements of the BBBEE Act. BEE certificates are required for businesses that want to participate in government tenders or to do business with large companies.
Exempted Micro Enterprises
Exempted micro enterprises (EMEs) are businesses with an annual turnover of less than R10 million. EMEs are automatically exempt from the requirements of the BBBEE Act. This means that they do not need to obtain a BBBEE certificate or comply with the BBBEE Codes of Good Practice.
The BEE level is a measure of a business’s compliance with the BBBEE Act. BEE levels range from 1 to 10, with 1 being the lowest level of compliance and 10 being the highest level of compliance. Businesses with a higher BEE level are considered to be more black-owned and controlled, and they are therefore eligible for preferential treatment from government and large companies.
I hope this information is helpful. Please let me know if you have any other questions.