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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

Dr Malete elected Chairperson of PanSALB

2010-09-06

Dr. Elias Malete

The Principal of UFS’s Qwaqwa Campus, Dr Elias Malete, was recently elected Chairperson of the Pan South African Language Board (PanSALB) at the 62nd General Board Meeting held in Pretoria. He is taking over from Prof. Sihawukele Ngubane from the University of KwaZulu-Natal (UKZN).

PanSALB is a constitutional body tasked with promoting and creating conditions for the development and use of eleven official languages in South Africa, including the likes of German, Greek, Gujarati, Hindi, amongst others.

“Our mandate going forward is to complement the good work that was done by Prof. Ngubane. We are charged with the responsibility of maintaining quality, respect, honesty and accountability in order to realise our new vision of promoting and ensuring respect for all languages commonly used by South African communities, including the Khoi, Nama and San languages, as well as South African Sign Language,” said Dr Malete.

“Our main focus in the next twelve months of office will be the development of programmes which will support PanSALB’s three-year strategic plan. These programmes will focus on administrative matters to ensure prudent financial and effective corporate governance of PanSALB, as well as aligning our structures like national language bodies, national lexicographic units and provincial language committees with the new strategic plan. This alignment is crucial if we are to create conditions for the development of all languages, thus promoting multilingualism and ensuring respect for all South African languages,” said Dr Malete.

Meanwhile, Dr Malete was invited by the Athens Institute for Education and Research to present a paper at the 3rd Annual International Conference in Literature, Language and Linguistics in Athens, Greece. His paper, Negation of adjuncts in Sesotho, was well received by the international audience.

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