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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

Fun and camaraderie key to Vishuis rugby success

2017-09-27

The forwards of Vishuis laid a strong foundation in
the K1 rugby final against Kagiso. This helped them
to secure a win of 38-16.
Photo: Marelize van Niekerk

They have not only been dominating the residence rugby scene at the University of the Free State over the past few years, but also nationally. Although they might experience added pressure as favourites, a key ingredient to Vishuis’ success story is their enjoyment of the game and their camaraderie.

According to Henco Posthumus, the Vishuis captain, they realise that it still remains residence rugby. “The guys pitch up at practice because they want to play, not because somebody begged them to.”

Comfortable triumph in final

Vishuis claimed their fifth Varsity Cup Koshuis title earlier this year, and will defend their national title after being crowned Kovsie residence champions on 8 September 2017. They beat Kagiso comfortably 38-16 in the K1 final, after leading by 31-9 at half-time.

Posthumus says the fun element is often forgotten, but not at Vishuis. He says it is not just about the first team either. “Almost every house member, no matter if he studies medicine or if he hasn’t played rugby before, is playing a bit of rugby on a Friday evening. That is also why we, as a fairly small residence, can field five teams.”

More than just a game

Although their proud record serves as motivation, it is about more than just rugby. “The guys grow together in different ways. It is an honour to see how they grow during a season, also spiritually.”

They have been lucky not to suffer many serious injuries over a number of seasons, Posthumus says. “We are privileged to have 110 years of history behind our residence, and people from within and outside buy into who we are.”

“Our (new) coach, Zane Botha, is also a valuable acquisition. He has taken our rugby to the next level.”

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