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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 busy with building projects to the value of R220 million

2010-07-26

Pictured at the sod-turning ceremony are, from the left: Mr Nico Janse van Rensburg (Manager: Physical Planning), Prof. Jonathan Jansen (Rector and Vice-Chancellor of the UFS) and Prof. Dennis Francis (Dean: Faculty of Education).
Photo: Ula van Zyl

Since 2009, the University of the Free State (UFS) has already rolled out building projects to the value of R220 million on its Main and Qwaqwa Campuses.

Some of these projects include a new building for Education Training for the Faculty of Education, which will be erected at a cost of R21 million on the Main Campus opposite the UFS-Sasol Library. The sod-turning ceremony of the centre took place last week.

Prof. Jonathan Jansen, Rector and Vice-Chancellor of the UFS, turned the first sod and a tree was also planted at the future entrance of this impressive building. “I am impressed with the eco-friendly design of the building and what the project promises for the future of the faculty and the UFS. It is important that the UFS continues to expand and improve,” he said.

The building, which will primarily be used for the training of Mathematics and Science teachers in the foundational phase, will amongst others boast three classrooms with seating for 100 students each, an auditorium that can seat 225 students and an office block. The auditorium will also be used as a classroom in the traditional African context of open-air teaching. The building has been designed to save water and power efficiently and will be completed by the end of 2011.

Other building projects that have been rolled out on the Main Campus this year include a building consisting of lecturing halls as well as offices for the Faculty of Health Sciences, a new skills laboratory, new laboratories, etc., at the Biotechnology Building, the renovation of the Stef Coetzee Building, die upgrading of various lecturing halls, the upgrading of service workers’ quarters, as well as the installation of computer rooms in virtually all the hostels.

Various other projects are in the pipeline, for example, extensions to the building in which the Department of Architecture is housed. At the Qwaqwa Campus, a new building for the Faculty of Education is under construction, laboratories are being renovated and new hostels for 200 students are being built.

Media Release:
Lacea Loader
Director: Strategic Communication (actg)
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl@ufs.ac.za
26 July 2010

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