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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 presents unique rally

2005-06-07

On Friday 10 June 2005, the University of the Free State (UFS) will present the Kovsie version of the Amazing Race in Bloemfontein.

The Amazing Rainbow Rally will be held in aid of children and babies with serious diseases in the Department of Pediatrics and Child Health in the Faculty of Health Sciences.

By raising the necessary funds, equipment can be acquired to meet the unique health care needs of these special patients. It will also enable the UFS to maintain the high standards of education, training and research in this field.

The Amazing Rainbow Rally will give some residents of Bloemfontein an opportunity to test their knowledge of the city, as well as their time management skills, communication skills, team work and even their relationships!

About 12 corporate teams from among others Vodacom, Eskom, Medi-Clinic, Mimosa Mall and Nedbank and four university teams must follow a specific route with various checkpoints by car. Here they will have to complete activities or solve clues before receiving their clue to the next checkpoint. Teams will be traveling with cars branded with the logo of the company they represent.

The rally will start at 09:00 at the Rooiplein of the UFS and will again end on the campus where they will complete the last task. The first team to complete this task is the winner of Bloemfontein’s first Amazing Rainbow Rally.

OFM’s breakfast team will do live crossings on the day to reveal how teams are doing.

The Department of Pediatrics and Child Health at the UFS serves children with special needs, in other words children who need intensive care, or who suffer from cancer, heart disease, neurological diseases and conditions, endocrinological diseases or gastro-enterological conditions.

The Department provides secondary health care to more than 250 000 children in the southern parts of the Free State, but is responsible for the tertiary care of about a million children in the Free State and Northern Cape, as well as some parts of the North-West province, the Eastern Cape and Lesotho. The intensive care units at Universitas and Pelonomi Hospitals serve approximately 1 300 neonatal and 350 intensive care patients annually. The pediatric cardiology unit admits almost 300 high care heart patients per year. Approximately 13 000 out-patients visit these two hospitals every year.

MEDIA RELEASE

Issued by:  Lacea Loader
   Media Representative
   Tel: (051) 401-2584
   Cell: 083 645 2454
   E-mail: loaderl.stg@mail.uovs.ac.za

7 June 2005

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