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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

Spring Graduation

2011-09-12

Our university will be awarding altogether 91 diplomas/certificates and 624 degrees during the Spring Graduation Ceremony on 14 and 15 September 2011. Of these, 23 doctorates and two honorary doctorates will also be awarded.

As with this year’s Autumn Graduation Ceremony, we will be making the ceremony more accessible to students and the public. Two appearances, in particular, can be looked forward to on this occasion: a national concert pianist in Grade 12 from Voortrekker High School in Bethlehem, Caryn Reed, and a continental debating champion and second-year student in our Faculty of Economic and Management Sciences, Sibusiso Tshabalala, as guest speaker.

All the master’s and doctoral degrees of the various faculties will once again be awarded during one ceremony on 15 September 2011.

Prof. Robert Frater, Emeritus Professor in Thoracic and Cardiovascular Surgery, and Emeritus Professor of Paediatrics, Albert Einstein College of Medicine and Montefiore Medical Centre, New York, will be receiving an honorary doctorate in Medical Science. As a teacher and trainer, Prof. Frater has influenced many surgeons in his training role in the wards, operating room and intensive care facility. Dr Akilagpa Sawyerr, an academic from Ghana, will be receiving an honorary doctorate in Education for groundbreaking work done on the African continent. Dr Sawyerr, who is a member of our International Advisory Council, has visiting appointments at prestigious universities, such as the famous Fletcher School of Law and Diplomacy at Tufts University. He also has visiting status at the Harvard Law School and the Yale Law School.

The full programme for the various ceremonies is:

Wednesday, 14 September 2011:

At 10:15, the degrees will be awarded to students of the Faculties of Humanities, Education, Law and Theology. Diplomas/certificates up until honours degrees will be awarded. This excludes the Certificate in Education, National Professional Diploma in Education and the Advanced Education Certificate.

At 15:15, degrees will be awarded to students in the Faculties of Economic and Management Sciences and Natural- and Agricultural Sciences and Health Sciences. Diplomas/Certificates up until honours degrees will be awarded.

Thursday, 15 September 2011:

At 10:15, a total of 125 master’s and doctoral degrees plus two honorary doctorates will be awarded by all the faculties in a joint ceremony.

The Chancellor’s Dinner will also take place on the same day.

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