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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

Women must fight for equal opportunities - Motshekga

2010-08-06

Photo: Stephen Collett

“We will not know peace and prosperity unless all women are free. We must open opportunities for women and make sure that we achieve the necessary progress. I believe this would be the best way to honour the life of Charlotte Maxeke.”

This rallying call for action was made by the Minister of Basic Education, Ms Angie Motshekga (pictured), in her speech to commemorate the life of Charlotte Maxeke, a woman she described as “a heroine” to all South Africans.

The University of the Free State (UFS), in conjunction with the Free State Premier’s office, presented the annual Charlotte Maxeke Memorial Lecture at the Main Campus in Bloemfontein to once again honour this remarkable African woman as part of celebrating Women’s Month.

“We must ensure that we act consciously to extend equal opportunities, freedom and justice to all women,” she said. “We must put all our energies together in this task of uplifting women and children.”

She said that even though women had made considerable strides since the advent of democracy in South Africa, especially in government, much still had to be done to ensure equal opportunities for all women.

“There’s a 40% women representation in government, but the question we should ask ourselves is: What value does this representation bring to the life of an ordinary woman? What impact does it have on her life?” she asked.

She said women were still less represented in managerial positions. “Sexism requires the same amount of energy that we use to fight against racism,” she said.

She also announced that the government had decided to declare the graves of Charlotte Maxeke, Lillian Ngoyi and Helen Joseph as national heritage sites.

The well-attended lecture was entitled: United in action to make 2010-2020 a decade for women in Africa.

Among those present were members of the ANC Women’s League, who came in buses and mini-buses; Dr Allan Boesak and his wife; past and present Free State MECs; and the Vice-Rector of External Relations at the UFS, Prof. Ezekiel Moraka.

Media Release:
Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt@ufs.ac.za
6 August 2010

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