With a firm focus on transformation and inclusive employment opportunities, we’re proud to announce that First Impression Labels has achieved a Level 1 B-BBEE rating with 100% black ownership.
As part of the Hirt & Carter Group, we’re passionate about the development and upliftment of our employees. Not only is this part of our long-term strategy for the longevity of our company but also for the industry and the country’s economic sustainability as a whole.
Through training, learnership programmes and the creation of new employment opportunities for the disabled and previously disadvantaged, First Impression Labels is committed to accelerating socio-economic transformation.
These efforts are in line with the Black Economic Empowerment (BEE) goals of attempting to redress previous systems of inequality in the country and bring about an inclusive and equal opportunity economy for people of all races and backgrounds.
Broad-Based Black Economic Empowerment (B-BBEE) provides the legislative framework for the implementation of BEE. It provides a scorecard that rates businesses according to their adherence to these government-initiated goals and rewards companies with preferential procurement recognition.
Besides actual ownership, other areas of a business are considered for B-BBEE ratings including management, employment equity, skills development, enterprise development, preferential procurement, and socio-economic development.
Our improved B-BBEE rating from Level 2 to Level 1 is good news for our clients and everyone in our supply chain. Being Level 1 compliant pushes up our procurement recognition from 125% to 135%. This means that for every R1.00 our customers spend with us, they can claim R1.35 against their own preferential procurement scoring.
By designing initiatives that deliver on our strategic objectives for transformation and adherence to BEE goals, we aim to positively impact the economic growth of the country as a whole.
Our new Level 1 B-BBEE rating is a significant milestone for us. We hope it helps build a more sustainable economy for the future.