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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

Final lecture in Darwin series presented at the UFS

2010-02-23

At the lecture were, from the left: Prof. Terence McCarthy, Prof. Jo van As, Chairperson of the Darwin 200 Committee and Head of the Department of Zoology and Entomology at the UFS, Prof. Bruce Rubidge, Elsabe Brits, journalist at Die Burger and Esther van der Westhuizen, presenter on Groen.
Photo: Leonie Bolleurs

The University of the Free State (UFS), in collaboration with the Central University of Technology, Free State (CUT) and The National Museum in Bloemfontein recently hosted the final lecture on the Charles Darwin lecture series entitled “The story of life and survival”.

The lecture was presented by Prof. Bruce Rubidge, the Director of the Bernard Price Institute for Paleontological Research at Wits University and Prof. Terence McCarthy, a Professor of Mineral Geochemistry at Wits and Head of the Department of Geology. Proff. Rubidge and McCarthy are co-authors of the book The Story of Life on Earth.

Their lecture with the topic “Trends in evolution and their bearing on the future of humankind” dealt with the future of evolution. According to Prof. Rubidge, ninety-nine percent of the species that have ever lived are extinct. “We are living in a time of mass extinction. Fifty thousand species become extinct annually,” he said.

Prof. McCarthy discussed many factors that can result in mankind’s extinction today. The impact of climate change, big volcanic eruptions, a comet or asteroid hitting earth, tsunamis and the collapsing of sea islands are some of the factors Prof. McCarthy believes could cause great catastrophe’s on earth.

“We live on the brink of this all the time,” he said.

Prof. McCarthy also believes that we can avoid these catastrophes. By allowing only one child per family we can shrink the global population with 30% per generation. This is doable in a short time span,” he said.

Other ideas he had on saving mankind from getting extinct is to create extensive ecological reserves on land but especially in the ocean, to decentralise everything, to change to renewable energy, to recycle resources and to be vigilant in doing this.

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