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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

Qwaqwa campus upgrade begins

2005-06-23

Academic facilities, including lecture halls and the library, on the Qwaqwa campus of the University of the Free State (UFS) will be upgraded to the tune of R1,4-million.

An extra R100 000,00 has also been made available for the upgrading of four staff houses on campus.

The tender for this project was awarded to a local business in the Qwaqwa region, Mguni Enterprises. This phase is expected to be completed next month - July 2005.

This is the second phase of upgrading of the Qwaqwa campus, following the earlier upgrading of student residences to the tune of R6,2-million.

“The total capital injection to improve the infrastructure on the campus is R7,7 -million. The aim of the upgrading is to improve the infrastructure of the campus in order to provide an atmosphere conducive to learning, “said Prof Peter Mbati, Qwaqawa Campus Head.

The first phase of the upgrading - amounting to R6,2 million - comprised of the upgrading of the five student residences and mainly dealt with the maintenance backlog. Residences were painted, old furniture replaced, electricity rewired and the necessary alterations made to ensure sufficient hot water supply as well as a new look to the face of the residences.

According to Prof Mbati the student visiting areas, reception areas and rooms were also improved by the changes in the first phase. The renovated residences now also boast facilities such as kitchenettes, washing machines and tumble driers and computers rooms.

There are currently 754 students staying in the residences. Three residences accommodate female students and the other two are for male students. Students who are not accommodated on campus stay at the former Tshiya College of Education, approximately 5 kilometers from the campus. These students are bussed in to the campus on a daily basis.

“All these developments are a major step forward for the Qwaqwa campus as it once again shows our commitment to the campus to make it an attractive site of higher education in the Eastern Free State,” said Prof Frederick Fourie, Rector and Vice-Chancellor of the UFS.

Media release

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

23 June 2005

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