BEE rating franchise launched

Cutting costs of site visits
ALAN PEAT
A CAPE based black economic empowerment (BEE) rating agency has just launched a rating agency franchise which will cut site visit costs and make ratings for companies in smaller centres or rural areas a more accessible pursuit.
According to TEF’s chief information officer Gerrit Davids, with all the rating agencies located in the major centres of the country, these companies have difficulty in obtaining BEE rating certificates because of the high cost involved to conduct site visits.
“TEF will conduct the bulk of the audit process,” he said, “leaving only the site evaluation part to franchises.”
No upfront franchise fee is payable and successful applicants will generate income from rendering evaluations on companies being audited for BEE rating purposes.
Said Davids: “The franchise is a perfect additional revenue stream for accountants, lawyers, business support practitioners and organisations.
“Franchisees will be trained on conducting BEE evaluations and how to assess companies’ operational capacities as required by the department of trade and industry draft codes of good practice and the various industry charters.”