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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

International human development practitioners gather at first HDCA conference in Africa

2017-09-18

The first HDCA annual conference on African soil was held at
UCT from 6 to 8 September 2017.

The Human Development and Capability Association (HDCA) is a global community of academics and practitioners that seeks to build an intellectual community around the ideas of human development and the capability approach, and to relate these ideas to the policy arena and justice in the world. The association promotes research within many disciplines, ranging from economics to philosophy, development studies, health, education, law, government, sociology, and more. Members live in over 70 countries worldwide.

The HDCA’s conference is held annually; in 2017, the 17th international conference was held in Africa for the first time. Hosted by the Universities of Cape Town, the Free State (UFS), and the Western Cape, and the Human Sciences Research Council (HSRC), the meeting was held in Cape Town from 6 to 8 September 2017. The conference attracted outstanding global scholars, such as Profs Ravi Kanbur (Cornell), Martha Nussbaum (Chicago), Ingrid Robeyns (Utrecht), and Jayati Ghosh (Jawaharlal Nehru University), among many others.

The conference theme was Challenging Inequalities: Human Development and Social Change, a particularly apt topic in the wake of Stats SA’s latest Poverty Report, which shows growing poverty and inequality in South Africa. Prof Melanie Walker, Director: Centre for Research on Higher Education and Development (CRHED) at the UFS, outgoing vice-president of the HDCA, and a member of the conference committee, led a group of researchers from CRHED, ten of whom were involved in presenting papers, while two former PhD students also presented their research. Overall, the quality of papers was very high, with Prof Nussbaum remarking that this was ‘the best HDCA conference’ she had attended.

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