As a level 2 BBBEE supplier and a Qualifying Small Enterprise (QSE), forgood is dedicated to facilitating positive social impact and promoting economic empowerment. For our clients who pay a monthly fee, there is an opportunity to include forgood in their supplier development spend by providing monetary assistance, training, equipment contributions, or even preferential payment terms. Additionally, we can also be considered as an Enterprise Development Partner.
In this article, we will delve into the Socio-Economic Development (SED) aspect and explore how you can claim SED and ED points for your involvement with forgood.
SED – Making a Meaningful Difference: SED initiatives on our platform are designed to benefit at least 75% black South Africans. Every cause listed meets this important criterion, ensuring your contributions align with the goals of economic empowerment and upliftment.
Calculating Time Contributions: When it comes to quantifying your SED efforts, the calculation is based on a volunteer’s salary divided by 140, multiplied by the number of hours contributed. This recognition applies to both large companies (revenue > R50m) and small companies (revenue < R50m). However, it’s crucial to substantiate your claims with sufficient evidence, such as a letter of thanks from the recipient, confirmation of contributions and hours volunteered, an SED certificate from the NGO, or a letter confirming the percentage of black beneficiaries (which we can collect for you). PS: Remember to encourage the culture of logging hours by incentivising your employees.
Claimable Volunteering Initiatives: To claim SED points, it is important that your volunteering initiatives involve providing a skill to the end beneficiary, aiming to foster their economic development. Examples of such initiatives on the forgood platform include tutoring, mentoring opportunities for youth, and providing a professional service such as auditing, marketing, strategy. By engaging in these activities, you contribute directly to the advancement of individuals and communities.
Events and SED: Lastly, if a forgood event involves a service provided by a Cause, your company can request an 18A certificate (upon prior arrangement).
At forgood, we are committed to facilitating SED and ED initiatives that empower historically disadvantaged communities and drive positive change. Together, let’s leverage forgood’s platform to make a lasting difference and foster a more inclusive and empowered society. 🌍