In a groundbreaking move, YES is offering an unparalleled opportunity for businesses to enhance their B-BBEE (Broad-Based Black Economic Empowerment) levels without incurring YES fees.
This unprecedented campaign is targeted at qualifying small entities (QSEs) and exempted micro enterprises (EMEs) joining YES for the first time, making it an ideal chance for small and medium-sized businesses to boost their empowerment credentials while contributing to youth employment.
We’re doing this to help stimulate the SMME sector – the backbone of the South African economy. YES already subsidises costs for SMEs that participate in the programme, but we’re increasing our support to the sector by totally taking on all costs (not including youths’ salaries) for the first 100 companies who sign up for YES for the first time. This will also boost these businesses’ B-BBEE levels, subject to sub-minimum requirements in some instances.
Who is eligible?
This exclusive offer is open to QSEs and EMEs who are looking to participate in the YES programme for the first time.
- QSEs: Businesses with an annual revenue between R10 million and R50 million.
- EMEs: Businesses with an annual revenue of less than R10 million.
Unpacking the zero cost offer
For first-time participants, YES is waiving both its registration and monitoring & evaluation (M&E) fees. This means the only expense your business will incur is the youth salaries. Essentially, this translates to a zero-cost* opportunity to elevate your B-BBEE status.
What are the typical YES fees?
- Registration Fee: Ranges from R100 for EMEs to R2,500 for QSEs.
- M&E Fee: Ranges from R1,600 per youth to R3,000 per youth, depending on your business’s net profit after tax (NPAT) and turnover.
By waiving these fees, YES is providing a significant financial relief, allowing businesses to invest directly in the youth they employ.
Subminimum requirements for participation
For QSEs, participation in the YES programme comes with certain subminimum requirements. Your business must either:
- Achieve 40% of its B-BBEE targets in two of the three priority elements (with Black ownership being one of them): Black ownership, skills development, and enterprise and supplier development.
- Reach an average of 40% across two of the three priority elements, ensuring that Black ownership is included.
For EMEs, there are no subminimum requirements. However, your business must have completed the verification process to participate.
So how much do I pay, really?
You will only pay for your youths’ salaries, which has to (at least) adhere to the national minimum wage (currently calculated at R4,782 p/m, or R57,384 p/a, excluding UIF and SDL). You can pay your youth more than the minimum wage.
Depending on the higher of two calculations, you will get your youth target number (how many youth you need to employ in a year in order to qualify for the B-BBEE level up benefit. You can calculate your target here to understand how many youth salaries you will need to pay.
Register now, do your programme later
This offer is only valid until 31 December 2024 or for the first 100 new QSE/EMEs that sign up for YES (whichever comes first). However, if you want to start your YES programme at a later date, you can register now and do your programme later!
Act fast - Limited spaces available
This extraordinary offer is available only to the first 100 businesses that register their programmes. Given the significant benefits and the no-cost entry, the slots are expected to fill up quickly. Don’t miss out on this golden opportunity to enhance your B-BBEE level and contribute to youth employment in South Africa.
How to register
To take advantage of this offer, you can register your business' YES programme by clicking here and use discount code YESME. For any further queries or additional information, feel free to contact us at corporatesupport@yes4youth.co.za.
The impact of YES
Participating in the YES programme is not just about improving your B-BBEE level. It’s about making a tangible impact on the lives of young South Africans by providing them with valuable work experience and a stepping stone to a brighter future. By joining this programme, your business becomes a catalyst for change, contributing to a more equitable and prosperous society.
Benefits of participation
- Enhanced B-BBEE status: Improve your B-BBEE level at no cost, which can open up new business opportunities and compliance benefits.
- Corporate Social Responsibility: Showcase your commitment to social responsibility by investing in the youth of South Africa.
- Talent Pipeline: Gain access to a pool of young, energetic, and motivated individuals who can bring fresh perspectives and ideas to your business.
Join the future of change today by registering for the YES programme.
Let’s build a brighter future together.
For more information, contact us at corporatesupport@yes4youth.co.za, or register your business' YES programme by clicking here and use discount code YESME.
Together, we can make a difference.
*YES reserves the right to adjust this campaign at management’s discretion.
Amendment to the Gazette