Proposed changes to the current B-BBEE Codes of Good Practice

The B-BBEE Codes of Good Conduct gazetted during February 2007 stipulated that all measured enterprises’ B-BBEE compliance must be measured. Two sets of targets were identified in the B-BBEE Codes: 0 – 5 years targets (more relaxed) and 6 – 10 years targets. The 6 – 10 years targets came into effect on 9 February 2012. Revised B-BBEE Codes: Business Partners submitted comments with the DTI In October the Department of Trade and Industry ...
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Choosing a legal entity for your business

One of the first and most important decisions an entrepreneur has to make is what type of legal entity to register his business under. There are many factors to consider and all the pros and cons must be weighed, as the wrong choice could be a costly mistake. "The business format will depend very much on the nature and size of the business, and should suit the entrepreneur's individual needs," says Nazeem Martin, MD of Business Partners, South Af...
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Beware of your labour relations matters

Whether you are operating a small business or a large business, there are laws that regulate your relationship with employees. As an entrepreneur you need to be fully aware of these. For those looking to get into business for the first time you need to acquaint yourself with the regulations of three bodies that regulate wages as well as the terms and conditions of employment. These are the Sectoral Determination (SD), Wage Determination (WD) and...
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Contracts related to buying commercial property

Once you have settled on a property that you would like to buy for your business, there will be various contracts to negotiate. This article will give you a very basic guideline, but this is an area where the expense of legal representation is money well spent. Buying a commercial property is a very complicated process with numerous technicalities that can arise. It's for this reason that you should hire a lawyer who specializes in commercial pro...
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What to look for in a lease agreement

When you are renting premises for your business, know exactly what the conditions of your lease agreement are to avoid getting caught out by hidden clauses or an unscrupulous landlord. Finding the appropriate space and location for your business is an important step towards realizing your dream of owning your own enterprise, but as with any contract, make sure you understand the contents of your lease agreement before you sign it. While it's vit...
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