Black economic empowerment in Richards bay:challenges and lessons for small businesses
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Date
2014
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Publisher
University of Zululand
Abstract
Since 1994 the South African government introduced legislation to provide new economic opportunities to all people in South Africa, particularly those who were previously disadvantaged. Black Economic Empowerment was introduced to substantially increase the number of Black people having ownership and control in enterprises and especially in the priority sectors identified by the government. Promotion of small businesses is a key element in the government’s strategy of addressing the imbalances of the past and to create employment and income generation. The purpose of the study is to find out about the Black Economic Empowerment (BEE) progress in the fertilizer value chain in Richards Bay, the challenges they are facing and the lessons they have learned. A major focus of the section on Black Economic Empowerment (BEE) was the codes governing qualifying small businesses in Richards Bay and to also find out what people think about Black Economic Empowerment (BEE). Based on the findings the study reveals that the majority of BEE has a positive impact on small businesses in Richards Bay. Most of small business owners or managers have a little bit of understanding about BEE. Practical recommendations were made to guide and support small business and encourage them to be registered and have the Black Economic Empowerment certificate, and comply at least with two of the seven elements.
Description
A thesis submitted to the Faculty of Commerce, Administration and Law in fulfilment of the requirements for the Degree of Master of Commerce in the Department of Business Management at the University of Zululand, South Africa, 2014
Keywords
small businesses --black economic empowerment --Richards Bay --South Africa