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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 forms International Advisory Council

2010-11-09

The University of the Free State (UFS) has established an International Advisory Council (IAC) to advise the leadership of the university on its future positioning strategies, especially in relation to its international ambitions as a place of scholarship and service among the leading universities in the world.

The Council, constituted by Prof. Jonathan Jansen, Rector and Vice-Chancellor of the UFS, consists of nine high-profile international experts with proven expertise, leadership, influence and experience.

“Since the appointment of Prof. Jansen, the leadership of the university has been revising and aligning several functions as part of a thrust to position the institution to meet 21st century national, regional and international challenges,” says Prof. Aldo Stroebel, Director of International Affairs at the UFS.

The appointment of the IAC is one of the strategies to advise and guide the UFS during the next phase of development and growth.

The university is fortunate to have attracted council members from various spheres of influence who can provide strategic guidance and bring cutting-edge expertise to bear on the policies, strategies and actions plans of the UFS. Among them are Prof. Brenda Gourley, former Vice-Chancellor of the University of Natal (now UKZN); Mr Gert Grobler, SA Ambassador to Japan; and Ms Phumzile Mlambo-Ncquka, Former Deputy-President of South Africa, and Executive Chairperson of the Umlambo Foundation.

The first meeting of the Council will take place from 10-13 November 2010. During this meeting the Council will advise the university leadership on the positioning of the UFS in a global knowledge economy; research excellence; excellence in the scholarship of teaching and learning; student engagement and transformation; and other strategic programmes of focus, including engaged scholarship.

The other Council members are:

- Prof. Joel Samoff: Professor of African Studies, Stanford University, USA (Chairperson)
- Prof Luc D’Haese: Chairperson: University International Committee and Advisor to the Rector, University of Antwerp, Belgium
- Prof. Masafumi Nagao: United Nations University and International Christian University, Japan
- Dr Uri Ofir: International Entrepreneur and Business Development Specialist, Scientech Inc., Switzerland
- Prof. Alice Pell: Vice-Provost International Affairs, Cornell University, USA
- Prof. Akilagpa Sawyerr: Former Secretary-General, Association of African Universities (AAU), Ghana

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

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