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Fostering entrepreneurship among young people

02 March 2023 | Story Kekeletso Takang | Photo Supplied

EMS Entrepreneurship awards ceremony — The School of Accountancy hosted the award ceremony for attendance of the event in the Centenary Complex on the Bloemfontein Campus of the University of the Free State, issuing certificates of completion to the entrepreneurs who were part of the programme in collaboration with the National Youth Development Agency.

Concerns are constantly raised in South Africa that graduates do not have the requisite practical skills when entering the world of work. Along with this, the country grapples with a high youth unemployment rate that is higher than the national average. The University of the Free State (UFS) attempts to bridge this gap.

In partnership with the National Youth Development Agency (NYDA), the UFS School of Accountancy (SOA) recently held a training programme for approximately 100 Free State youth in need of entrepreneurial upskilling. The training, aimed at developing entrepreneurial skills among the youth, took place on the Bloemfontein Campus over several sessions.

This comes at a time when the UFS intends to maximise its societal impact with sustainable relationships through its Vision 130.

On 22 February 2023, participants were awarded certificates of attendance at a prestigious event held on the Bloemfontein Campus.z

Addressing the participants at the event, Tumi Dithebe, Regional Manager of the Free State NYDA office, said he was impressed by the high level of commitment displayed by the participants during the training, and hoped that it would extend to how they manage their businesses. “Today, we are gathered here to acknowledge your achievement and to celebrate the partnership with the UFS.”

Meaningful partnerships

“The School of Accountancy has had a working relationship with the SETA for Finance, Accounting, Management Consulting, and Other Financial Services (FASSET) since 2015. FASSET introduced the SOA to the NYDA, which was looking for a public institution to assist with the training of entrepreneurs,” said James Veitch, Senior Officer in the School of Accountancy. “We are in the process of negotiating a mentoring process to extend the influence of the training.”

Entrepreneurship upskilling is a growing need in the business environment. While formal programmes offer hard skills development, training workshops such as this one provides an in-depth practical approach to support young people in mastering day-to-day challenges.

Partnerships with various stakeholders are critical to providing young people with the skills they need to succeed in entrepreneurship. No one institution can do it alone. Initiatives should be sustainable and adaptive to the constantly evolving business environment.

Vusi Peter, one of the participants with an information technology business, said the training has afforded him the opportunity to learn about financial management and business modelling. “Many times, we tend to neglect the management side of things when running a business. This training was a reminder to take care of the basics and to ensure that our businesses comply.”

News Archive

UFS community makes difference through Big Give Project

2016-06-10

Food for the needy. From left is Annelize Visagie, Health and Wellness;
Vicky Simpson, No Student Hungry Food Bursary Programme;
Elizabeth Msadu, Health and Wellness; and Lorinda Slippers, Student
Representative Council Rag Community Service, at the handover of
the food and cash collected by the RAG Big Give Project.
Photo: Jóhann Thormählen

Thanks to the caring community of the University of the Free State (UFS), students in need were provided for during exams, and will receive more food in the cold winter months.

Once again, staff and students made valuable contributions at the successful RAG Big Give Project, where food contributions of R 38 176.20 and cash donations of R25 000 were received. Staff, residences, and the RAG Committee made these donations as part of the project on 5 May 2016, when contributions were made at the Bloemfontein Campus gates of the UFS. An extra donation by Imperium, a residence on the Bloemfontein Campus, of R20 000 for FutureLife helped to achieve the grand total of food contributions.

According to Vicky Simpson, Assistant Officer at the No Student Hungry Food Bursary Programme (NSH), the food donation is for a designated group of students who have already been identified as food insecure by the social work office. “It will be distributed to them on a monthly basis,” she said.

The handover of food collected was done on 25 May 2016 at the RAG Food store by the RAG Office to Health and Wellness and the NSH. The RAG Office thanked the UFS community for its contributions to the project. Parexel, who made cash and food donations, received special mention. Simpson said “the food will make a huge difference in the lives of students who do not know where their next meal will come from”.

According to Jaco Faul, Senior Assistant Officer Rag CS, his office is already looking forward to the next instalment of the Big Give Project. “We challenge faculties and staff members for the forthcoming Rag Big Give project in October to see if we can beat the amount collected this time.”

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