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Don't be short-sighted about BBBEE codes

Cape Town - SA’s new broad-based black economic empowerment (BBBEE) codes acknowledge that small businesses create the most jobs, according to Catherine Wijnberg, SME specialist and founder of SME growth accelerator, Fetola.

"As a result, support of start-up entrepreneurship is encouraged and three areas identified: Small business development, skills development and personal development," she said.

"Given the resources at their disposal, established firms are among the parties called upon to help effect change."

She said viewing the new codes as a new form of taxation, is short-sighted.

"Smart businesses are realising that compliance can bring about meaningful BBBEE support and mutual gains, as well as offering opportunities for some real innovation,” she said.

“The codes encourage business to see the big picture and make an impact. One of the most practical ways in which to do this is by making relevant existing resources available to help black owned start up businesses be more effective," said Llew Claasen, VP Marketing at Clickatell.

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