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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

Future Leader’s Award 2017 goes to UFS Quantity Surveying student

2017-08-11

Celebrating big achievements in the construction
sector at the recent Association of South African
Quantity Surveyors (ASAQS) conference are, from
the left: Cameron Ferreira, junior lecturer in the
UFS Department of Quantity Surveying,
Jhon Thatcher, former UFS student in the same
department who was the second runner-up for the
Gold Medal Award, Dr Stephan Ramabodu, President
of ASAQS, Gerné Bothma, former student in the
department and winner of the Future Leaders’
Award 2017, and Pierre Oosthuizen, UFS lecturer in
the same department.
Photos: Supplied

The Department of Quantity Surveying and Construction Management at the University of the Free State (UFS) made good on its promise to develop independent and critical-thinking graduates who will become leaders in their field. At the recent Association of South African Quantity Surveyors (ASAQS) conference and gala dinner, two students from the department, Gerné Botma and Jhon Thatcher, received awards for their outstanding performance.

Best of the best
Botma received the ASAQS Future Leaders’ Award (2017), an award based on academic achievement in the first three years of study. He competed with nominees from universities across South Africa offering Quantity Surveying programmes, and was the winner in this category.

Thatcher was a second runner-up for the ASAQS Gold Medal Award (being in the top three Quantity Surveying students in South Africa). This is awarded on a number of criteria, including academic achievement. Fourth-year students from all the universities in South Africa offering Quantity Surveying programmes compete for this award, and must display achievement in categories such as academia, leadership, community engagement, and general interests. In 2016, the Gold Medal Award was won by the UFS student, Kamogelo Leeuw.

Keeping abreast of developments
Today, organisations are relying on its members to stay ahead of issues, technologies, innovations and trends. In Quantity Surveying, to keep abreast of developments in the built environment, ASAQS was established as a voluntary association, with one of its goals being advancing and promoting the science and practice of Quantity Surveying. ASAQS works in close collaboration with its member firms, tertiary institutions, and the South African Council for Quantity Surveying Professions (SACQSP), a statutory body that oversees and regulates the profession, and accredit Quantity Surveying programmes in South Africa.

Two staff members from the UFS Department of Quantity Surveying and Construction Management, Cameron Ferreira and Pierre Oosthuizen, attended the recent ASAQS annual conference. Ferreira, a junior lecturer in the department, is the current Chapter Chairperson of the Free State for ASAQS and Oosthuizen, a lecturer in the department, is the former Chapter Chairperson.

According to Ferreira, they attended the conference to keep abreast of the latest development within the industry. “The event also served as a great networking opportunity for the UFS to build partnerships with other industry pioneers,” she said. Making use of opportunities such as these is in line with the UFS’s pursuit of lifelong learning.

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