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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

A journey into self-discovery

2011-08-17

Sandy Little

The launch of the film and book Africa meets Africa: Pathways through the Interior at our university was a huge success.

It forms part of the The Africa meets Africa Project that is known for making connections between knowledge systems in pursuit of learning. It integrates amongst others beadwork and weaving with mathematics.

The film takes one through the Free State and some parts of the Northern Cape. The two actors, Mr Lerato Mokhitli and Ms Sandy Little, are both art students at Kovsies. During the trip they reveal some historic events not known to all. Prof. Jonathan Jansen, Vice-Chancellor and Rector, said: “Our history is a lot more complex and interesting than current texts allow. Much of what happened laid the foundations for trauma, and triumph is poorly understood. More so, is the history of the ordinary.”

The film and book are funded by National Heritage Council and FirstRand. It was launched in other provinces, among them KwaZulu-Natal. The Africa meets Africa Project aims to use the book in the Free State and Northern Cape in the Further Education and Training (FET) phase for educators and university students.

Prof. Jansen furthermore said: “I would definitely recommend the book with some additions, such as representation of excluded cultures. This would include white ethnographic histories and cultures and the intersections across black/white, African/European histories. I would also make the subject history compulsory to ensure that children would be exposed to our complex history.”

Ms Moipone Kabaoe, a third-year B.Soc.Sc. student at UFS, said: “The film was very informative and clarified some things. I also believe the actors have actually grown from the experience and they did a great job.”

Mrs Anna Mokhitli was ecstatic at the launch, as any proud mother would be. “I knew they were working so hard, but I never thought it would be something this big,” she said. Ms Helene Smuts, Director of Africa meets Africa, said: “You cannot learn until you start with what you know. This is the journey we took; now you must take your own.”

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