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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 council approves guidelines for reconfiguration of Vista Campus

2005-03-15

Human resource development (teaching and training) will be the primary aim of services to be rendered at the reconfigured Vista campus of the University of the Free State (UFS).

This in-principle decision forms part of a set of guidelines for the strategic reconfiguration of the Vista campus in Bloemfontein that was recently approved by the UFS Council. The Vista campus was incorporated into the UFS in January 2004.

“One of the most important aspects that resulted from these guidelines is that we have come to a point where I can say that the future of staff at Vista is not dependant on the strategic reconfiguration of the campus. Vista staff members will stay staff of the UFS and are being integrated into the functions of the main campus,” said Prof Magda Fourie, Vice-Rector: Academic Planning at the UFS.

“According to the guidelines, the reconfiguration of the Vista campus must occur within the ambit of the UFS as a single institution with three campuses,” said Prof Fourie.

The UFS is currently offering two activities on the Vista campus – the regional Centre for Recognition of Prior Learning (RPL) and the Sesotho Language Research and Development Centre.

According to Prof Fourie no duplication of services or programmes being rendered on the main campus in Bloemfontein will take place. In the guidelines suggestions are made that the Vista campus could be used for activities that are currently offered on the main campus (eg short learning programmes), new UFS activities (mainly of a developmental and entrepreneurial nature), cooperative partnership ventures with other role-players and the renting of facilities for education and training purposes.

“However, no definite decisions have been made about these possible activities – the necessary consultation process with relevant stakeholders and role-players must first take place. A consultative forum for this will be established early in the second term of this year,” said Prof Fourie.

“We are excited about the possibilities that have arised from the guidelines as it fits in with our vision to utilise new resources for education and training and to contribute to higher education in the Free State. This will also contribute to the development of human resources as a propelling force in the Central Region,” said Prof Fourie.

MEDIA RELEASE
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
15 March 2005

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