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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

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"Learning more about ourselves, our group and the world at large..."

2011-09-28

For the latest news from our students abroad, you can follow us on twitter and join us on facebook.

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A group of 98 first-year students from our university departed from the Bloemfontein Campus’s International Offices to the OR Tambo International Airport on Thursday 22 September 2011. From there, they will be flying to New York, USA, via Dubai. Shortly after their arrival in New York, they will be welcomed by Dr Anthony Marx, the president of the NYPL.

The programme, a first in South Africa, kicked off in 2010 with 71 students visiting the USA.

The programme gives students intense exposure to the academic, social, cultural and residential lives of students abroad. A total of 150 UFS students are now part of the programme. The rest of the group of 2011 will leave for universities in Europe and Asia in January 2012.

Facebook and twitter comments from our students (unedited):

Thabiso Mike Letselebe (27/09/2011)
"having fun flyin to cleveland"

Eddie Bob DeWet (27/09/2011)
"‎...The city that NEVER sleeps NYC- no jokes!!!"

Marco D. Smit (27/09/2011)
"The group travelling to Minnesota University... We are having a great time, learning more about ourselves, our group and the world at large. Thank you for the grate opportunity!"

Vusi Mesatywa (27/09/2011)
"by Sherilyn Roelofse - Apart from the amazing beauty of the JMU campus (Harrisonburg, Virginia), I am taking in so much! It is amazing to see how everything functions here. I am astounded by the way the food system of the university works - it's so organised! I also love how there is always something happening on campus. For example, tonight we attended a session hosted by the Harrisonburg Fire Department and we had to move through a smoke filled room. drag a deadweight-dummy, and put out a fire. And yes, we have discovered that the American campus life is pretty much exactly what it looks like on movies! ;)"

Cecile Boshoff (26/09/2011)
"Appalacian State University is the best place ever!!!! We are all in love with this place!"

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