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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 wins national serenade competition

2010-09-07

The men from Veritas show why they won the National “Sêr” competition.
Photo: Provided

After many months’ practice, sweat and late nights, the “sêr” group of Veritas, a men’s residence at the University of the Free State (UFS) managed to make name nationally and bring home a coveted crown.

At the recent National “Sêr” Competition hosted by Stellenbosch University (US), this group of talented young men made a clean sweep when they snatched up the prizes in the Men’s Residence section, the best performance of a song for their gospel medley, as well as the prize for the overall winners.

The competition, which took place at three venues, was attended by approximately 3 000 people. The competition was presented in the Endler Hall of the Music Conservatory of the US and the halls of the Secondary School Bloemhof and Paul Roos Gymnasium. According to Corneil Müller, one of the adjudicators at the Endler Hall, the majority of the adjudicators agreed that Veritas deserved the first prize. The other adjudicators at this hall were Karen Meiring, Bondina Osterhoff, Saranti Rheeders, Leonore Bredekamp and Sidumo Jacobs.

According to the head student of Veritas and second tenor in the “sêr” group, the group did not really expect to win all the prizes. However, when the audience gave them a standing ovation, the group started to think that the first prize really was within their reach.

Their gospel medley is close to the hearts of the entire group. It is the men’s way to say thank you for their talents. “It is a very special song for us – it means a lot to each one in our group,” says Herman. To win the prize with for this medley for the best performance of a song was the cherry on the top for these men. “We did not even know that such a prize existed!” says Herman.

The ladies of Sonnedou Residence’s “sêr” group also participated in the competition. This section of the competition was won by Vergeet-My-Nie from the North-West University (NWU).

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

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