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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

It's almost time for Rag procession 2012

2012-01-25

This year Rag is bigger and better.

This year’s Kovsie Rag of our universities Bloemfontein Campus promises to stand out head and shoulders above all previous years.

Kovsie Rag and Kovsie Community Service joined hands and is now known as Kovsie Rag Community Service.

For this reason, during this year’s Rag Procession in Heidedal and Mangaung, Kovsie Rag Community Service will distribute food parcels in this community.

The processions in Heidedal and Mangaung will both take place on Saturday 28 January 2012 at 10:00.

In Heidedal participants in the Rag Procession will distribute food parcels at the Twin City Shopping Centre and in Mangaung food parcels will be distributed at the Kenilworth Shopping Centre.

The programme for the Rag Procession is also well underway and first-years are eagerly building floats for this year’s Rag Procession on Saturday 28 January 2012

At 18:00 the main procession will start from the UFS and move to the final destination at Old Greys where DJ Black Coffee and Die Heuwels Fantasties will perform.

For the first time in Rag history, a Mr Rag will this year be crowned together with Miss Rag at the Crowning Ceremony Ball on Friday 3 February 2012.

The purpose of Kovsie Rag Community Service is to raise funds for charity and it is currently the biggest of its kind in South Africa.

“We are in the process of exceeding all expectations” says Pieter Badenhorst, Kovsie Rag officer.

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