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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 Vista campus elects SRC

2005-08-25

Front from left:Ms Mpule Rabele, Finance; Mr Julius Kompi, President; Ms Buyiswa Nyotho, Vice-President; Back from left: Mr Tshepo Mohotsi, Academics and Transformation; Mr Shimane Mokwena, Sport, Arts and Culture ; Mr Maje Mokhutle, Projects and Community Liaison; Mr Teboho Mtimkulu, Secretary-General; Mr Andile Tyobeka, Constitutional and Legal Affairs;

Mr Julius Kompi, a senior LLB-student, has been named as the president of the Student Representative Council (SRC) at the Vista Campus of the University of the Free State (UFS) in Bloemfontein.

The election of a SRC for the Vista Campus of the UFS for the term 2005/2006 was completed earlier this week.

After the main campus, the Vista campus is the second of the UFS three campuses to have completed its SRC election process. Students at the Qwaqwa campus of the UFS will elect a SRC on Friday 26 August 2005.

“The Main Campus SRC and the Vista Campus SRC elections were a resounding success and were conducted in a peaceful manner. We are positive that this tendency will continue in future,” said Dr Ezekiel Moraka, Vice-Rector: Student Affairs at the UFS.

According to Dr Moraka the election process on the Vista Campus was closely monitored by the Independent Electoral Commission (IEC). More than 50% of the students on campus took part in the election.

A central SRC that represents the three campus SRCs of the UFS was inaugurated earlier this month. The officials of the Central SRC will be chosen after all three campuses have elected a new SRC.

Media release
Issued by:  Lacea Loader
   Media Representative
   Tel: (051) 401-2584
   Cell: 083 645 2454
   E-mail: loaderl.stg@mail.uovs.ac.za

25 August 2005

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