Page 4 - KZN Business Sense 9.4 - Shadrach Karien (Cover)
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              Johan van Deventer,   report annually to the Financial   they are B-BBEE compliant.
              KZN Regional      Sector Transformation Council   Currently there are no specific
                Manager, LabourNet   (FSTC) on its progress made in   requirements on having Black
                                implementing the provisions   Ownership and as such, even
                                of the 2017 Amended Financial   a non-compliant certificate is
                      he        Services Sector Code. Non-    deemed sufficient.
                      question,   submission with this reporting
                T“Does          requirement, results in the entity   The ICT Sector
                 my company     being deemed non-compliant and
                                                               ICASA’s “Regulations on the
                 really need to   impacts the outcome of their next   limitations of Control and
                 be B-BBEE      B-BBEE Verification whereby
                 compliant?”    their overall B-BBEE Level will   Equity ownership by Historically
                 is asked by    automatically be discounted by   Disadvantaged Groups and the
                 many business   one level.                   application of the ICT Sector
   owners irrespective of the size of                         Code” issued on 31 March 2021
   their company or the industry in   The Gambling Sector     specifically refer to Individual &
   which they operate and remains a   As the National Gambling   Class Licenses as defined in the
   valid question to this day.                                2005 Electronic Communications
                                Board is involved in the process   Act. For Class Licenses, licensees   defined in section 1 of the Act   (EMEs) and Qualifying Small
    Though being B-BBEE         of ensuring that the entire   will need to have a Level 4   and include all entities within the   Enterprises (QSEs) using the
   compliant has its benefits in being   gambling industry achieves at   B-BBEE status whereas for   real estate sector. Section 2 of the   DTIC or CIPC affidavits.
   able to apply for government   least a Level 2 B-BBEE status as   Individual licenses, licensees   Act stipulates that the Act will   The above shift in focus is a
   tenders and giving you a leg   per the 2013 General Amended   will need to comply with the   apply to all activities pertaining   clear indication of how B-BBEE
   up on your competitors, one   Codes, the Provincial Gambling   following:                to property such as marketing,   requirements are changing and
   cannot ignore the fact that   Boards are also requiring some                             promotion, managing, sale,    more importantly, that being
   during the past few years there   form of B-BBEE compliance from   ■   Obtain or maintain a Level 4    letting, financing and purchasing   B-BBEE compliant is critical in
   has been a major shift in focus   licensees in order to maintain     B-BBEE Status with 30% Black    of immovable property, and   order to receive or renew one’s
   regarding transformation.    or renew their licenses. These     ownership using the flow-   to any rights, obligations,   trade or operating licences. 
   B-BBEE compliance is becoming   prerequisites, unfortunately     through principle and   interests, duties or powers
   a prerequisite for all businesses   though implemented with good   ■   If in a 24-month period, there    associated with or relevant to
   irrespective of their dealings with   intentions, have a negative     are  any changes which will    such property.  As per Section   Should you need assistance in becoming
                                                                                                                          compliant with B-BBEE legislation, kindly
   the South African government.   impact on new or international     decrease Black shareholding    50(a)(x) of the Act “(a) any   contact LabourNet.
   As such for the following    companies who are finding it     or ownership with 5% or    person who is not in possession
   sectors, B-BBEE compliance is   difficult to enter the local South     more or which will decrease    of a valid BEE certificate” is   T: +27 (0)31 266 6570
   a prerequisite for companies to   African gambling market    Black People’s voting rights, the    disqualified as a PP and cannot   C: +27 (0)82 786 7480
   obtain or maintain their trading                             Individual licensee needs to    be issued with a Fidelity Fund   W:
   or operating licenses:       The Alcohol Sector              notify ICASA.               Certificate”.  Currently there
                                  Entities operating within this                            is no specific B-BBEE level or
   The Finance Sector           sector who are applying for a new   The Property Sector     percentage Black ownership
    Each entity conducting      trade license, liquor distribution   The 2019 Property Practitioners   required and though the Act may
   business in the South African   license or a renewal of a current   Act is applicable to property   be vague, this should also apply
   financial sector is required to   liquor license must ensure that   practitioners (PPs), who are   to exempt micro enterprises


                                       iscover the key drivers   to thrive. Access to capital is      consumers. Their ability to       provided valuable insights on
                                       behind a vibrant       essential for businesses of all      reach a wide customer base       building a robust economy.
                                Deconomy as discussed         sizes as it enables them to invest      and operate on a large scale    Here are some key takeaways:
                                 on a recent Money Show       in research and development,      drives economic growth and    ■   Take initiative and don’t wait
                                 insert with Pavlo Phitidis and   upgrade infrastructure, and   stability.                  for external forces to improve
                                 Bruce Whitfield. This insert   expand their operations.    2.  Medium-Sized Businesses:      your circumstances. Start
                                 highlighted the crucial factors   Adequate funding also plays      Play a crucial role in new      pursuing your entrepreneurial
                                 of competition, innovation,   a vital role in attracting and      market development. Their      ambitions now
                                 funding, and talent and their   retaining top talent.         agility and flexibility allow
                                 role in shaping economic                                                                 ■   Medium-sized businesses are
                                 landscapes. Here we delve into   Talent as the Engine of      them to explore emerging      the bridge from the large
           Pavlo Phitidis        the main takeaways from the   Success: Talent is a critical driver      markets, identify untapped      to small enterprises. They
                                 show, exploring how individuals   of success for any enterprise.      opportunities, and pioneer      can maintain their agility
     ECR Breakfast and business   and businesses can contribute to   Skilled individuals with expertise      innovative solutions. These      by embracing smart strategies
    growth specialist Pavlo Phitidis   building a thriving economy.  and creativity propel businesses      businesses drive economic      and leveraging contracting and
    are celebrating local businesses                          forward. Whether large           expansion by adapting to      consulting opportunities.
    with the KZN Future 50        Competition Drives          corporations or small startups,      evolving market trends.
    campaign. This weekly profile   Progress: Competition is the   attracting and retaining top talent                    ■   Set a single destination and
    of a forward-focused business   driving force behind growth   is crucial for driving innovation   3.  Small Businesses: Contribute to      adopt a focused approach to
    shows how their growth brings   and progress in any economy.   and achieving sustainable      the economy through       navigate challenges and seize
    a better future to us all. All   When businesses compete, they   growth. Nurturing talent within      innovation at the edges. They      opportunities. Learn from past
    KZN businesses are invited to   are motivated to constantly   an economy is vital for long-term      bring fresh ideas, niche      experiences, take ownership of
    apply and get free exposure.  improve their products      prosperity.                      products, and specialised      decisions, and leverage acquired
                                 and services. This healthy                                    services to the market. Their      knowledge.
                                 competition fosters innovation   Roles of Different-Sized      ability to swiftly adapt and    ■   Uphold ethical practices, avoid
                                 and encourages companies to   Businesses                      experiment fosters diversity      theft, late payments, and
                                 develop groundbreaking ideas   Understanding the roles played      and resilience within the      animosity towards competitors.
                                 and solutions that address   by businesses of different sizes      business ecosystem. Small      Foster collaboration and
      SCAN                       market needs.                is key to fostering economic      businesses often serve as      continuous learning as part
     THIS QR                      Innovation and Funding      vibrancy.                          incubators for innovative      of a healthy business
                                                                                               concepts that can eventually
     CODE TO                     for Success: Innovation is the   1.  Large Corporations: Focus on       scale up and benefit the broader      environment. 
      LEARN                      lifeblood of success in today’s      distribution, leveraging their    economy.          For more information contact Johan:
                                 fast-paced business world. It
      MORE                       requires adequate funding         extensive networks to efficiently    4.  Building an Economy: Key    E:
                                                                 bring products and services to

                                                                                               Insights: The radio show
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