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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

Greyhound racing: Public input needed

2009-02-03

Members of the public have a second opportunity to make submissions regarding the possible legalisation of greyhound racing in South Africa.

A research team from the Faculty of Law at the University of the Free State (UFS), in conjunction with the Department of Trade and Industry (dti), will hold a second round of public consultations in Gauteng, the Free State, North West, the Eastern Cape, the Western Cape and KwaZulu-Natal in February and March this year.

During the first round of consultations last year the research team, under the supervision of Prof. Elizabeth Snyman-Van Deventer of the UFS, received written submissions from interested members of the public and various associations.

The purpose of this research project is to give an objective overview of the greyhound racing industry nationally as well as internationally. This includes aspects such as animal welfare, social, economical and political issues and the legal framework pertaining to greyhound racing.

The study focuses on the current situation in South Africa and internationally regarding the jurisdictions where the sport is currently active and the current legal framework.

It will also include a comparative study of the situation in countries such as the United States of America, Ireland, England, Belgium, Australia, New Zealand, Canada and Vietnam.

Greyhound racing was banned in South Africa years ago because gambling was regarded as immoral at that time. Now that gambling has been legalised and is regulated there are debates on the legislation of greyhound racing.

The animal welfare and protection groups are against the legalisation of greyhound racing, while other role players have been calling for the racing to be legalised and regulated.

The public consultations will take place as follows:

• 6 February 2009, 09:00-12:30, Protea Edward Hotel, Durban
• 13 February 2009, 09:00-12:30, Protea Sea Point Hotel, Cape Town
• 20 February 2009, 09:00-12:30, Protea Marine Hotel, Port Elizabeth
• 26 February 2009, 09:00-12:30, Garden Court Hotel, Bloemfontein
• 27 February 2009, 09:00-12:30, Protea Manor Hotel, Hatfield, Pretoria
• 6 March 2009, 09:00-12:30, Garden Court East London, Esplanade, East London
• 13 March 2009, 09:00-12:30, Willows Garden Hotel, Potchefstroom

For further information, members of the public who are interested in attending these consultations should contact Mpho Mosing of the dti at 012 394 1504/083 436 5534 or Prof. Snyman-Van Deventer at 051 401 2698 or e-mail it to snymane.rd@ufs.ac.za

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