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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

SRC elections of our Bloemfontein Campus

2011-07-26

The Student Council elections of our university at the Bloemfontein Campus will take place on 29 and 30 August 2011. These official election dates were announced by Mr Rudi Buys, Dean: Student Affairs, on 25 July 2011.

Nominations open on Wednesday, 27 July 2011 and the elections, which are constituted according to the SRC Constitution, shall be handled by the Independent Electoral Agency, which shall be instituted by the SRC Constitution with this in view.

“The elections introduce a new era in student leadership and governance, because student representation will now constituted in such a way that affords the majority of students the opportunity to vote directly for their representatives. Senior leadership structures are extended in the new Constitution, in order to allow more students to hold senior positions,” states Mr Buys.

The SRC elections follow on the approval of a new Constitution that was accepted by our Council on 3 June 2011.

The Constitution was drafted over a period of eight months by the Broad Student Transformation Forum (BSTF), consisting of students, in order to design a new dispensation in student structures. The BSTF, which decided on new models of student representation in collaboration with independent facilitators, consists of more than 70 student organisations and residences. The changes to the Constitution were decided on and accepted by the BSTF, after recommendations from four student study groups, which investigated student leadership and governance in depth, at national as well as international level, were taken into account. The study groups visited nine (9) other SA universities, as well as investigated student representation at internationally renowned universities like Cornell, Yale and Stanford in the United States of America.

Ms Modieyi Motholo, Chairperson of the Interim Student Committee, says that she is very proud of what the students have achieved with the new Constitution. “I wish to accord recognition to all the students who lead the process for all their hard work. Constitutional revision is a strenuous process and it is nothing short of a miracle that the students could not only reconstruct the Constitution, but also have it accepted in less than a year.”

The important changes include, amongst others:

Candidates no longer stand on behalf of parties in the elections, but as independent candidates for 10 predetermined portfolios for which students can vote directly;
Students also directly vote for a President and a Vice-President;
Nine (9) SRC members serve ex-officio as SRC members by virtue of being chairpersons of nine additional student councils established by the Constitution. Amongst others, the councils include a postgraduate student council, an international student council, a student media council and a student academic affairs council;
More stringent eligibility requirements are set for candidates, namely that students who wish to run in the elections has to, amongst others, sustain an academic average of more than 60%, and hold proven student leadership experience (which could be verified by the Independent Electoral Agency).

“With the SRC elections, students have the opportunity to firmly entrench the changes in student governance on which they have decided on by themselves firmly, as a sustainable model for democracy at our Bloemfontein Campus. It speaks volumes that the number of leadership positions for which candidates can make themselves available, in essence has been increased by the number of additional student sub-councils from 21 to 67, because it brings about much more direct representation for different students across the campus,” says Mr Buys.

“I firmly believe that the upcoming student council elections will be a success,” says Motholo. “I wish the students, who are prepared to sacrifice a year of their lives in service of the student community as a member of the SRC, all of the best.”

The Qwaqwa Campus’ election schedule shall be announced within the next week, as well as the date of the institution of the Central Student Council (CSC).

Media Release
26 July 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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