A NEW KPMG survey refutes the popular belief that SMMEs, particularly white owner-managed companies, are unwilling to sell black economic empowerment stakes to black entrepreneurs. It has concluded that SMMEs perform above average when it comes to selling stakes to blacks. It suggests they are realising that complying with BEE legislation is crucial to their future growth. The head of BEE advisory services at KPMG, Sandile Hlophe, told City Press recently he was surprised by the results of the survey saying there was a general perception that because most SMMEs were owner-managed they tended to resist transformation. The aim of the KPMG study was to measure BEE progress and to find out how companies planned to accelerate transformation. The firm surveyed 298 firms across the entire economic spectrum including JSE-listed firms, multinationals, SMMEs and unlisted companies. On a negative note, the study found that about 20% of the companies surveyed had no BEE strategies in place, with the agriculture and tourism industries lagging behind in implementing BEE. Most of the companies quizzed in the tourism and agricultural sectors said they were waiting for the adoption of industry charters before throwing their weight behind BEE. The survey also showed that industries that pioneered BEE charters such as mining, financial services, and petroleum and liquid fuels, outperformed sectors without charters in driving BEE.
