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UFS Business School helps young people become entrepreneurs

12 December 2022 | Story Kekeletso Takang | Photo Supplied

web read more — Through the New Venture Creation Programme, the UFS Business School aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The University of the Free State Business School (UFSBS) recently hosted a New Venture Creation programme aimed at mitigating unemployment among the youth. Through this programme, the UFSBS aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The unemployment rate in South Africa was 33,9% in the second quarter of 2022, with youth remaining particularly vulnerable in the labour market. The New Venture Creation programme, funded by the Education, Training and Development Practices Sector Education and Training Authority (ETDPSETA), provides the opportunity for 100 unemployed youth in the Northern Cape and 100 unemployed youth in the North West to be part of the programme.

In addition to the UFSBS, the ETDPSETA has also partnered with the Office of the Premier in the Northern Cape, the Sol Plaatje Municipality, and the Department of Social Development. These partners assisted with the identification and recruitment of participants in order to ensure the right people were included in the programme.

“For me, the programme was informative and practical,” said Paseka Tlali, one of the top achievers taking part in the New Venture Creation programme. “It allowed me to learn about developing a business plan. Since completion, I have registered a business focusing on media consultancy. Through my business I can educate others on the importance of developing a personal brand.”

David Gool, another participant from the Northern Cape, said, “I have now become a social media ambassador working with Herbalife as their brand ambassador, thanks to the programme.”

Participants were taken on a practical journey to identify an idea and turn it into a profitable small business. Not only were they taught about new venture creation, but they were also taken on a journey to understand themselves better. The four-month programme saw participants go from attending classes to presenting their business plans to a panel that was also referred to as “The Circle of Elders”. This panel consisted of the ETDPSETA, the UFSBS, the National Youth Development Agency (NYDA) and the Small Enterprise Development Agency (SEDA). They provided each participant with practical feedback and guidance on how to make their planned venture a reality.

The New Venture Creation programme includes the following study units: Entrepreneurship Journey, Marketing Plan, Operations Plan, Business Model, and Business Plan Framework, among others.

Graduation ceremonies were held at the completion of the programme in De Aar and Kimberley, sponsored by Standard Bank.

Read up on more programmes offered by the UFS Business School here

News Archive

UFS Qwaqwa campus sets deadline for applications

2004-11-11

The University of the Free State’s (UFS) Qwaqwa campus is preparing for the first round of applications for admittance to study in 2005. The closing date for applications is 30 November 2004.

“This applies to first-year students, senior students who have interrupted their studies for at least one year and undergraduate students from other educational institutions,” said Mr Vernon Collett, Registrar: Academic Student Services at the UFS.

According to Mr Collett, all applications that are received after 30 November 2004 and up to no later than 1 February 2005, will be regarded as pending.

“Since student numbers are now limited by government policy and depending on availability in educational programmes, these applications will be subject to consideration by the relevant dean,” said Mr Collett.

Prospective students who want to apply must pay a non-refundable fee of R100 into a designated account, which will be provided when the application form is sent to them. The signed application form must be accompanied by a certified copy of the prospective student’s identity document or passport and a proof of payment of the application fee. The application form of a minor must be signed by his/her parent or guardian and the field of study should be clearly indicated.

“A total of 2088 students are registered at the UFS’ Qwaqwa campus this year. We expect a considerable amount of applications and foresee that our numbers for next year will be similar to what it is now,” said Mr Collett.

First-time entering first-year students will be welcomed by the Rector and Vice-Chancellor of the UFS, Prof Frederick Fourie, on 15 January 2005 at 11:00 in the Nelson Mandela Hall on campus.

Prospective students who want to apply or who have any enquiries can call (058) 718-5000 or visit the UFS’ Qwaqwa campus web site at www.uovs.ac.za.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
11 November 2004

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