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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 outlines research achievements

2011-09-02

At the launch of the 2010 Annual Research Report, were from the left: Mr Robert Kriger, the director for Policy and Strategy at the National Research Foundation (NRF); Prof. Driekie Hay, Vice-Rector: Academic and Prof. Frans Swanepoel, Senior Director: Research Development.
Photo: Stephen Collett

The University of the Free State (UFS) is well on course for delivery on its most important academic duty as a research university. This was the message that came forward at the launch of the 2010 Annual Research Report of the UFS on 30 August 2011.

Speakers at the launch, which included Prof. Jonathan Jansen, Vice-Chancellor and Rector, as well as Prof. Driekie Hay, Vice-Rector: Academics outlined the key strategies and achievements of the UFS for the 2010 academic year. This included the establishment of a Postgraduate School at the UFS, the first of its kind at a public university in South Africa. Prof. Hay told guests that the aim of the Postgraduate School was to broaden research and deepens scholarship on postgraduate education in the country. She highlighted some initiatives the UFS undertook in 2010 to build and maintain its intellectual capital. Some of these initiatives included the appointment of seven senior professors and recruiting more female and black scholars and academics.

Also speaking at the event was Mr Robert Kriger, the director for Policy and Strategy at the National Research Foundation (NRF). Kriger reflected on the brilliant minds of scholars such as Archie Mafeje, Lewis Nkosi and Dennis Brutus and argued for efforts to increase the country’s research output.

Some highlights of the 2010 Annual Research Report:

The total funding available for research at the UFS increased from approximately R199 million in 2009 to just over R210 million in 2010. A total of R31.8 million was made available from central university funds.
In 2010 the UFS was home to 92 NRF-rated researchers. During 2010, four researchers applied for re-evaluation and of these, two improved their rating, while a further five received a first-time rating.
The Faculty of Natural and Agricultural Sciences continue to be the most prolific producer of publications in accredited journals, while the Faculty of Education has shown a 54% increase in its publication output.
Staff members in the Physics department at the UFS Qwaqwa Campus published 22 papers in international peer-reviewed journals during 2010.
Also at the Qwaqwa Campus: Ms Khethiwe Mtshali,a postgraduate student in the parasitology research unit of the Department of Zoology and Entomology, received a best Honours presenter award at the 1^st Annual Research symposium of the National Zoological Gardens of South Africa.

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