Is it necessary to comply with BEE in view of a company's projected turnover of 13.5 million for the first year of business?
The decision of whether a company should comply with BEE (Black Economic Empowerment) would depend on the legal requirements and regulations of the specific country or region where the company operates.
In South Africa, for example, BEE compliance is a legal requirement, and companies are generally expected to meet certain BEE criteria regardless of their projected turnover. Compliance with BEE is aimed at promoting economic transformation and addressing historical inequalities by encouraging the participation of black individuals and businesses in the economy.
Therefore, if your company operates in South Africa or any other jurisdiction with similar requirements, it would most likely be necessary to comply with BEE regulations, regardless of the projected turnover. It is important to consult with local legal or business advisors to ensure compliance with the specific regulations applicable to your company.