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29 October 2020 | Story Linda Dhladhla

The national Student Entrepreneurship Week is the best empowerment platform for students aspiring to become entrepreneurs. Students enrolled in higher education institutions need to appreciate more than ever before that employment post-graduation is not a given.  COVID-19 dampened South Africa’s growth prospects to worse levels than those predicted in 2019.  Students must therefore strive to equip themselves with the basics of entrepreneurship, so as to identify solutions to society’s most pressing challenges now, by participating in economic activities while studying. 

These are remarks by Dr Norah Clarke, Director of Universities South Africa’s Entrepreneurship Development in Higher Education (EDHE) programme.  In the week leading up to the national Student Entrepreneurship Week (#SEW2020) that commences on Monday 2 November, Dr Clarke explained why students must take entrepreneurial initiatives at their universities seriously in general, and in particular, why they must do their utmost to participate in the week-long #SEW2020 event from 2 to 4 November 2020.

For the first time since this event was established in 2017, the EDHE programme will be hosting #SEW2020 as a combined national and multi-institutional event. Twenty-one institutions will be sharing one common programme that runs from Monday, 2 November and wraps up on Thursday, 5 November.  As was done with the EDHE Lekgotla 2020, the #SEW proceedings will be livestreamed on the Whova app.  

According to Dr Clarke, this enables anyone to see what each of the 21 public universities and 3 technical and vocational education and training (TVET) colleges will be showcasing – in a rare opportunity never seen before in this particular context.  The opening ceremony of the virtual #SEW2020 will be hosted from the University of the Free State (UFS).
In addition to the morning’s welcome addresses, the day is dedicated to showcasing how the UFS Business School collaborates with the local business and banking sector in driving entrepreneurship for the common good.  A speaker from the Central University of Technology will add a research perspective on entrepreneurship.   To further unravel its entrepreneurship strategy and narrate how academics encourage innovation and support student enterprises, the UFS will showcase how academic support got 11 tangible business projects off the ground.  The audience will also hear first-hand from the studentpreneurs behind these projects how the university assisted them in their respective journeys from ideation through commercialisation to the market. 
 
Participate and engage through the Whova app and the 

More information: www.edhe.co.za

News Archive

UFS and BMF present a crash course on Financial Literacy for Young Entrepreneurs
2017-08-23

 Description: UFS and BMF present a crash course on Financial Literacy  Tags: UFS and BMF present a crash course on Financial Literacy

Starting a business, big or small, can be a really difficult task – especially if you are not equipped with the basic business knowledge to help you kick-start this project.

For this reason, the University of the Free State (UFS), in collaboration with the Black Management Forum (BMF), held a Financial Literacy Workshop for Young Entrepreneurs on the Bloemfontein Campus early last week to assist in this regard.

Young entrepreneurs equipped with business knowledge for start-ups
The purpose of the workshop, which was presented by Francois Marais and Eduard Loots from Riskflow, was to equip young entrepreneurs with knowledge and skills to assist them in the business world. The main focus was on training start-up businesses to prepare business plans, and training was given to researchers, developers, and innovators on how to commercialise their inventions.

Ansie Barnard, Senior Officer in the UFS Business School, says since the involvement of the school in entrepreneurship development over the past few years, they came to the realisation that many of these new businesses tend to fail within a year because they do not have a suitable financial model.

“This is the reason why we utilised Riskflow Financial Modelling Software, since it does all the accounting calculations on their behalf,” says Barnard.

Introduction to basic business banking
In addition to this, the participants were introduced to the basics of business banking, with Standard Bank and the Industrial Development Corporation (IDC) as the guest presenters providing them with this information.

BMF’s Rozanne Brown says that many of these young entrepreneurs have the desire to succeed in business; therefore there is a need for this type of workshop.

BMF and the UFS Business School will look into hosting more entrepreneurial workshops in the future,” says Brown. All attendees of the workshop will receive certificates for their participation.

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