THE euphoria surrounding SA’s hosting of the 2010 Soccer World Cup is matched only by the gleam of gold in almost every South African’s eye. For many, the event is the pot at the end of the rainbow … a chance to cash in on opportunities that have never before come our way.

Estimates compiled by accounting and auditing firm Grant Thornton during the bid process in 2003 found that the event should contribute R21bn to the economy and create almost 160000 jobs in exchange for government spending of about R2,3bn.

But government will spend far more than a couple of billion. In July, the national treasury acknowledged that the cost of hosting the World Cup would exceed the R5bn set aside for infrastructure in the 2006 budget, and could be pushed up further by planning delays.

An estimated R7,5bn is the latest figure being bandied about for the amount needed to refurbish five stadiums and build five new ones.

This is obviously good news for those in construction and the transport sector, with support infrastructure next on the list.

Another sector expecting to sing to the sound of the cash register ringing is the tourism sector. The event is expected to attract between 350000 and 450000 visitors to SA, and the local organising committee estimates that R10bn will flow in to the country from tourism alone.

Other industries set to cash in are safety and security; support services (including uniforms, catering, medical services, human resources, training and language services) and advertising and marketing.

This optimism has of course been tempered by questions over SA’s ability to meet its 2010 deadlines, the costs of about R20m a year to maintain the facilities and whether government will ensure that the new stadiums do not end up as white elephants.

However, amid all the talk, surprisingly little has been said about what entrepreneurs or small firms can hope to get out of the event, and whether they will be given the funding and mentoring they need to cash in on the World Cup.

Sadly, even less has been said about black economic empowerment. Yes, empowerment was fleetingly mentioned in the debate over whether Fifa would stick to its strict rules regarding official sponsorship, but there has been scant information about how small enterprises or black empowerment companies can bid for 2010 business or whether companies will need empowerment partners to claim a slice of the 2010 pie.

There is, however, no doubt that empowerment will be central to winning the contracts being awarded by the local organising committee or government as they fast-track spending ahead of the event.

Those who have applied to the local organising committee for supplier accreditation will know that empowerment credentials were certainly not ignored.

The accreditation document, which is effectively a request for information from companies and individuals interested in providing goods and services, carried its commitment to empowerment on page two of the 14-page document.

Supporting government’s broad-based black economic empowerment programme, the local organising committee stated that it was “strongly of the opinion that all business enterprises within SA have an obligation to redress the imbalances of the past” and that it would therefore “prefer to do business with local business enterprises that share these values”.

It was clear that it would give preference to companies with a black shareholding or which were prepared to channel a portion of the contract value to empowerment businesses through legitimate subcontracting or joint ventures.

Further on, the document states that the committee reserves the right to request any additional information or documentary proof of a company’s empowerment credentials and endeavours.

“The local organising committee further reserves the right to continually verify and monitor that such credentials are maintained and such endeavours materialise into real development and upliftment of historically disadvantaged individuals,” the document reads.

This means any company applying for accreditation, whether a R60bn powerhouse or R600000 a year start-up, must stand ready to back their claims or the spirit of the yet-to-be-gazetted regulations.

In the same way that government requires companies tendering for its business to be empowerment compliant, companies can expect empowerment to be the deciding factor when the committee is faced with two otherwise equally-qualified bidders.

In a way, empowerment could be seen as the goalkeeper preventing noncompliant companies from scoring an own-goal. Empowerment also guarantees that whether our team wins or loses, SA’s victory extends far beyond the soccer field.

Bridge is research and publications manager at Empowerdex.