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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 appoints a Vice-Rector: Operations

2011-03-20

Prof. Nicholas Morgan

The Council of the University of the Free State (UFS) has approved the appointment of Prof. Nicholas Morgan as Vice-Rector: Operations, at its meeting on Friday, 11 March 2011. He has been appointed in the position of Prof. Niel Viljoen, who is retiring on 31 March 2011.

Prof. Morgan formerly served as the Deputy Vice-Chancellor of the Central University of Technology, Deputy Vice-Chancellor of the University of Johannesburg, Interim Vice-Chancellor at Walter Sisulu University and Vice-Chancellor at the University of Transkei.

Prof. Morgan is a former Fulbright Fellow and holds a Master of Science degree from Cornell University in New York, an M.B.A. from Stellenbosch University and a B.Com in accounting and business economics from the University of the Western Cape.

He has held positions at various universities and served as a member of various international professional associations, including the American Industrial Relations Research Association, the Industrial Relations Research Association of South Africa, the South African Institute for Management Sciences and the American Council for Adult and Experiential Learning.

He has been published in numerous publications, and served on the editorial boards of the SA Journal of Business Management between 1993 and 1995 and the Journal of Human Resources Management between 1999 and 2009.

In addition, Prof. Morgan has also developed and presented numerous training programmes and workshops for NGOs, parastatals and unions in the private and public sector.

He has lectured courses in Industrial Relations, Strategic Management, Quantitative Management techniques and Marketing from first-year to postgraduate level at the University of the Western Cape, University of Cape Town and Cornell University.

Prof. Morgan will take up the position on 1 April 2011.

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

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