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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

During 2011: Infrastructure at the UFS

2011-12-01

Video clips:

Health Sciences Building
Clinical Skills Centre
Economic Sciences and Lecture Hall Building
Teacher Education Building
Biotechnology Building

A publication in which the infrastructure developments at the UFS are portrayed, was published this year. This publication celebrates the enormous development projects undertaken.

Constructive change (part 1)	Constructive change (part 2)	Constructive change (part 3)

Much has been done this past year to improve the infrastructure of our Bloemfontein and Qwaqwa Campuses with several buildings being built, some renovated and improvements made. Attention was specifically given to the growing need for lecture hall facilities and office space.

Some of the developments on our Bloemfontein Campus include: a brand-new entrance in Nelson Mandela Drive; a Memorial for Women and a Botanical Garden; a building for teacher education opposite the UFS Sasol Library; a building for our Faculty of Health Sciences opposite the Francois Retief Building; a Clinical Skills Centre for Allied Health Professions (the first in the country); and a building for our Faculty of Economic and Management Sciences between the Flippie Groenewoud Building and Wynand Mouton Theatre.

On our Qwaqwa Campus a building for teacher education is being constructed and some of the laboratories were refurbished and upgraded. More student accommodation is also well underway. A village development of four housing units that will accommodate 1000 students will be constructed on our Bloemfontein Campus.
Renovations and extensions were also made to some of the existing buildings such as the Architecture Building, the Biotechnology Building, the Department of Chemistry, the Stef Coetzee Building, the foyer of the Odeion, the Wynand Mouton Theatre and the Callie Human Centre. A staff restaurant has also been established on the Bloemfontein Campus and the building of ‘Little Professors’, a nursery school, is well underway.
“A building not only signals value to the outside; it also builds value on the inside. That is why it is important to notice how space has been organised and allocated to enhance the building of a community and to give academics, students and communities a sense of belonging to the university,” says Prof. Jonathan Jansen, our Vice-Chancellor and Rector.

The funding for most of the projects was made possible with an infrastructural grant from the Department of Education and Training.

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