With more and more young people wanting to take ownership of their futures – and their finances – an increasing number of students are establishing their own “side-hustles” whilst at tertiary institutions. Whether they succeed or fail, this experience is proving invaluable and should be supported. It was in this spirit that Fundi recently participated in the sixth annual Entrepreneurship Development in Higher Education (EDHE) Lekgotla in Gqeberha.
Started six years ago to encourage entrepreneurship among students, the EDHE Lekgotla takes place in collaboration with Universities South Africa and the Department of Higher Education and Training (DHET). This annual event brings together contributors in the student space with the aim of supporting “studentpreneurs” with existing SMEs or those thinking of starting a hustle on the side whilst still studying. As key players in the tertiary space, Fundi was invited to participate – sharing the team’s insights on student success.
“Entrepreneurship and pursuing one’s own vision of business success has become a real prospect for students,” says Bulelwa Tutani, Fundi’s Stakeholder and Partner Relations Manager. “This is something we’re seeing among many of the customers we assist with loans and other forms of support during their tertiary years. Whether they’re looking to supplement their income or gain real-life experience and practical skills before stepping into the corporate world, entrepreneurship provides excellent grounding for the future.”
Presenting at the event, Fundi’s team highlighted the importance of students continuing to focus on their studies whilst using these learnings wherever applicable in their own businesses. “We were also able to share funding options available to them to assist in financing part or all of their study requirements,” she notes. “This is particularly important in the context of holistic student success – again where entrepreneurship fits in. Where students are using income they generate to contribute towards their tertiary outcomes, they need to be mindful of everything that contributes towards their ability to get the best possible marks. This includes where they are staying, access to wifi and study resources, and even their diet and exercise options. Side hustles should support positive study habits and lifestyles – not distract from them.”
Tutani adds that Fundi’s own story should be seen as an additional source of inspiration for students wanting to pursue their own business ventures. “Started as ‘Eduloan’ over two decades ago, our business was created in response to the funding gap in the market: too few students were able to qualify for ‘traditional’ student loans from banks and other financial institutions. This was despite them being excellent candidates with bright futures ahead of them. Their non-traditional backgrounds made them ‘high risk’. We wanted to solve for this market challenge in a responsible and responsive way. Twenty-six years later, we’re a leader in the education funding space, having assisted over 50 000 students to date. We’ve also expanded to offer a full suite of offerings that speak to ever evolving student needs: delivering on our promise of ‘all things education’. We’re still very much an organisation that is intre- preneurial to its core – encouraging entrepreneurship and innovation among all our team members; supporting and exploring the trial of new ideas.”
With over 250 studentpreneurs attending the event, Fundi’s team left EDHE 2022 equally inspired. “It’s exciting to see the future of our country reflected in the young talent that was here today. The business ideas and offerings on show are inspiring and really showcase the incredible talent and potential of our country. We wish all of these entrepreneurs every possible success.”
