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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 receives research grant focusing on enablement of non-profit organisations

2011-01-20

Prof. Mabel Erasmus

The University of the Free State (UFS) has received a research grant to the value of R1,1 million from the National Research Foundation (NRF) to conduct research on community engagement, with the emphasis on knowledge as enablement – a Non-Profit Organisation (NPO) focus.

This was the first time the NRF had requested applications for research with a focus on community engagement (CE). With the grant, the UFS has become one of the first recipients of a research grant that focuses on community engagement.

The overarching research question that will be dealt with is how Higher Education Institutions (HEI) and the NPO sector can establish long-term, research-based collaborative engagements that will be mutually empowering and enabling through joint, reciprocal knowledge-based activities and capacity building.

The contention that this proposal is based on, is that HEIs have limited knowledge of the NPO sector and thus are unable to be fully responsive to the challenges that NPOs face. What is more, it is very likely that staff and students from HEIs do not have an adequate grasp of the experiential understanding, contextual community knowledge and practical know-how that NPO practitioners have, and hence do not appreciate the crucial contributions that they can make with regard to meaning-making processes aimed at improving some of the harsh South African realities.

According to Prof. Mabel Erasmus, Associate Professor and Head of the university’s Division: Service Learning, which submitted the research proposal to the NRF and is the grant-holder, the university would like the information generated by the research to be beneficial to both HEIs and the NPOs. “Knowledge regarding NPOs, specifically their challenges and information about what they are doing, will be invaluable to HEIs. At the same time, the research must benefit the NPOs with knowledge to improve their practice and strengthen their functioning.

“The research will take place in close collaboration with the NPOs, as their inputs are crucial. The research will thus not be ‘about’ them but ‘with’ them.”

“We do not want to send our students for community-based education or as volunteers to NPOs year after year and it does not mean as much to them as these organisations would hope for. With the research process we would like to strengthen NPOs, to build their capacity and give them our whole-hearted cooperation,” she said.

Funding received from the grant will be applied over a period of three years. Except for the study grants for five Ph.D. students and four master’s students, the grant will further make provision for a number of workshops, a local conference, a publication and presentations at international conferences on this matter. The research team of 22 persons includes academics from other HEIs such as the Central University of Technology, University of Zululand, University of Johannesburg and Monash SA. Several staff members of NPOs also form part of the team, including REACH (Bfn), Childline (FS) and others.

Prof. Erasmus said that the UFS was one of a few institutions that were currently conducting research to this extent on the link between the NPO sector and HEIs within the field of community engagement.

Media Release
18 January 2011
Issued by: Lacea Loader
Director: Strategic Communication (actg)
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: news@ufs.ac.za

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