Social Responsibility through Socio Economic Spend gives acknowledgement to companies whose initiatives help beneficiaries gain sustainable access to the economy.
This allows many companies that support these development initiatives already to score points on their BEE Scorecard.
Socio Economic spend is one percent of net profit after tax. The Company needs to make sure that they achieve this spend by keeping the deposit slips/petty cash receipts.
A letter of thanks stating that the beneficiaries are 75% black needs to be presented to the verification company at the audit.
At East Coast BEE we can take you through the steps needed to reach this level, Contact Us for a one on one meeting to discuss how.