Unsure of whether you are in need of BBBEE consulting? Simply put, BBBEE consulting is needed for the complications that may occur in Broad-Based Black Economic Empowerment (B-BBEE) Codes, in a low-growth economic setting and several other encounters that businesses are facing because BBBEE is not simply a list of doings to be done. There is a major lack of reliable and precise BBBEE guidance that leaves many business owners confused when it comes to developing and implementing their business’s BBBEE strategies. That is why many businesses rely on BBBEE consulting companies.

If you don’t understand why a consultant is needed, let the below information guide you better. A consultant is a person who provides expert advice on a professional level in a particular field of expertise, this being BBBEE. A BBBEE consultant helps businesses in undoing the difficulties within BBBEE and turning BBBEE compliance into a measurable growth plan. BBBEE consulting is therefore vital for any company in South Africa that demands to comply with BBBEE legislation.

A BBBEE consultant is situated right at the centre of the BBBEE ground and acts as a professional advisor to all businesses whether you are a small, medium, or large business in whichever sector by guiding them through the BBBEE setting, monitoring and auditing process. The consultants are actively involved in assisting businesses with BBBEE enquiries, preparing them for BBBEE verification, helping with the process, and so forth. They will help you throughout the verification process, collecting the necessary evidence, advising you on meeting the obligatory targets, calculating your present, future, or proposed claims as well as determining the impact on your level of compliance, among other services. The consultant will also assist you to achieve your desired level of BBBEE compliance in the most well-organised and cost-effective manner. This is a process of guiding a client towards the wanted or required BBBEE compliance level, this is also to manage the collecting of required documentation for the verification to take place.

In case you were unaware, a BBBEE strategy is a business’s plan which outlines what needs to happen in order to achieve certain results to accomplish its BBBEE objectives. The BBBEE consultant will then be able to provide planning advice and involvement in drafting and customising the BBBEE strategic plan according to your business needs for the purposes of budgeting to achieve the greatest benefit from it.

Often financial predictions being provided to the BBBEE consultant, are not always a true reflection. Inaccurate figures may lead to an under-expenditure, which further leads to fewer points on their BBBEE scorecards, resulting in a low BBBEE level overall. It is crucial that a client provides the BBBEE consultant with the necessary and accurate financial figures in order to compile a document which makes planning for the financial year feasible.

BBBEE consulting companies can change as your business further evolves, along with legislation. Every company faces a certain set of challenges, requirements, and opportunities and each works within the limits of explicit budgets. The role of a BBBEE consultant cannot be stressed enough as BBBEE is a process and not a once-off type of thing. It is an ongoing client-consultant relationship that aims to achieve the outcomes mentioned within the company’s BBBEE strategy.