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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 Centenary ends with a weekend of festivities

2005-02-04

The University of the Free State ’s (UFS) Centenary celebrations will come to an end this weekend with a packed programme.

“We celebrated this momentous milestone of the UFS since 28 January 2004 and want to end the year on a high note,” said Mr Jan Ras, Centenary Coordinator.

The weekend will start on Friday 4 February 2005 when Prof Frederick Fourie, Rector and Vice-Chancellor, will open the UFS officially. This will be followed by an historic photo of all staff and students who are on campus that day. All staff will be wearing their academic gowns and the Centenary emblem will be depicted.

The annual Kovsie Engen Rag, with We thank you South Africa as theme, will take place on Saturday 5 February 2005 . The procession will start at 08:00 from the UFS Kovsie church and will move down Nelson Mandela Drive and right into Markgraaff Street exit until it reaches St Andrew’s Street. From here it will turn right into Kings Way where it will stop at the Art Market at 10:00 . Prof Frederick Fourie will then propose a toast on the procession. Afterwards the groups and orchestras will step out and the floats will move through the center of town around Hoffman Square and then back to the UFS campus.

According to Mr Ras a reunion for the Student Representative Council (SRC) will also take place this weekend. About 100 former SRC members are expected to attend the planned activities.

The weekend will be concluded on Sunday 6 February 2005 with a special service of devotion, hosted by all the interdenominational groups on the campus. The service starts at 18:00 for 18:30 in front of the Main Building of the UFS and will be a celebration of praise, thanks and worship, followed by a message from Dr Wollie Grobler. The evening will be concluded with a mass choir and a fireworks display.

“Members of the public are welcome to attend the service of devotion and are requested to bring a candle for the purpose of the mass choir. Although chairs will be arranged in front of the Main Building , people are requested to bring extra pillows and blankets to sit on,” said Mr Ras.

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