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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 celebrates Kovsie Week

2009-08-21

The University of the Free State (UFS) will be celebrating Kovsie Week from 31 August to 4 September 2009. The week affords friends, colleagues and former colleagues of the UFS the opportunity to enjoy one another’s company and to experience what the university offers.

The programme is as follows:

On Monday, 31 August 2009, a star-gazing programme and lecture entitled “400 Years of Astronomy after Galileo” are presented by Prof. Matie Hoffman at the Boyden Observatory at 17:30 for 18:00. Attendance is free and bus transport will be available from the UFS Main Campus for the first 70 guests that respond. Reserved parking has been arranged with a security guard to look after the cars that are left on the campus.

On Tuesday, 1 September 2009, guests can attend the production by Pieter Venter entitled “Impi” for free in the Wynand Mouton Theatre at 14:30 for 15:00.

On Wednesday, 2 September 2009, an enjoyable morning in the company of Mr Derek de Bruyn from the National Museum is presented at the Centenary Complex of the UFS at 09:30 for 10:00. He will talk about the social life of Bloemfontein during the early 1900s and guests will be entertained by the Boere Orkes of Grey College Primary School under the direction of Santjie Louw. Attendance of this event is free.

On Thursday, 3 September 2009, at 19:00 for 19:30, a candle-light, sherry and soup evening with romantic piano music is presented at the UFS Centenary Complex by Prof. Nicol Viljoen from the UFS’s Department of Music. The programme includes, amongst others, 10 Lieder ohne worte (Felix Mendelssohn), as well as Ballade No. 1 (Fryderyk Chopin). Attendance of this event is also free.

The week will end with the Kovsie-Alumni Award Gala Dinner that will take place in the UFS Centenary Complex on Friday, 4 September 2009, at 18:30 for 19:00.
The cost per person for the dinner is R120. The Kovsie of the Year Award for alumni, the Cum Laude Award, and the Alumni Award for Exceptional Service at the UFS will be awarded at this occasion.

Transport can be arranged to all the functions and parking will be available as close as possible to the venue where the functions take place. Persons interested to attend any of the functions can contact Annanda Calitz at 051 401 3382 or ficka.stg@ufs.ac.za, or Ms Kathy Verwey at 051 401 9343 or verweyke.stg@ufs.ac.za.

Media Release
Issued by: Lacea Loader
Deputy Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
21 August 2009

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