Generic Enterprises
What is a Generic Enterprise?
Large Enterprises, also referred to as Generic Enterprises, are businesses with an annual *turnover in excess of R50-million per annum. This means that they must be measured on all five elements of the B-BBEE scorecard.
Generic Enterprises and Scorecard
Large enterprises need to comply with each of the five elements of the B-BBEE scorecard. These elements are:
- Ownership
- Management Control
- Skills Development
- Enterprise and Supplier Development
- Socio-Economic Development
Foreign-Owned Companies and Multinational Corporations
Effective B-BBEE Reporting not only helps businesses comply with legal requirements but also contributes to broader economic transformation objectives in South Africa.
B-BBEE Reporting is essential for many businesses, as it can affect their competitiveness, especially in sectors and situations where B-BBEE compliance is a prerequisite for contracts, tenders, or even partnerships.
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