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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

Graduation ceremony awaited with great excitement

2011-06-22

Everything is running according to plan on the Bloemfontein Campus of our university for the graduation ceremony of Ms Oprah Winfrey, which is taking place in the Callie Human Centre today, 24 June 2011.

The graduation ceremony, during which an Honorary Doctorate in Education will be conferred upon Ms Winfrey, promises to be something special. Measured against the smooth course of the preparations, the speed at which the tickets were obtained and the continuous interest amongst UFS staff and students, as well as members of the public, this promises to be a real 2011 highlight for all who are going to attend the event.

Strict safety and security measures shall be enforced and therefore, ticket holders are requested to make sure that they arrive early on the Bloemfontein Campus.

The UFS is aware of the fact that tickets are sold illegally at shopping centres in Bloemfontein. Computicket equipment shall be used on the premises tomorrow to ensure that only persons who have original tickets in their possession are admitted. People found to be in possession of forged tickets tomorrow shall be prosecuted.

The doors of the Callie Human Centre shall open at 13:00 on Friday for ticket holders and shall be closed strictly at 14:00. For safety and security reasons, nobody shall be allowed to enter or leave the building after the doors were closed.

Although the entrance gates to the Bloemfontein Campus shall not be closed, certain streets on the campus will be closed for some time today (23 June 2011) and the whole of Friday (24 June 2011). More information about this is available at www.ufs.ac.za

Clear signs, as well as voluntary staff, shall guide parking visitors to their parking spaces. The volunteers were selected after staff of all three campuses offered their assistance for the day.

Amongst the 4 500 guests attending the graduation ceremony are various well-known personalities and dignitaries, alumni, learners and other stakeholders of the university. Good reaction has also been received from the local, national and international media.

The programme in the Callie Human Centre is as follows:

13:00 Doors open
14:00 Doors close
14:30 Opening performances
15:30 Graduation ceremony
16:00 Ms. Winfrey’s speech and question and answer session with students
18:00 Programme ends.

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