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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

Autumn graduation a huge success

2012-04-04

Proud academics celebrate their child's achievement.
Salomé Naudé received her B.Med.Sc-degree. Her parents are Prof. Jacobus Naudé and Prof. Cynthia Miller-Naudé. (Senior Professors from the Department of Classical and Near Eastern Studies.
Photo: Leonie Bolleurs
2 April 2012

The University of the Free State (UFS) hosted its autumn graduation ceremony on the Bloemfontein Campus last week where the most diplomas, certificates and degrees were awarded at eight different ceremonies in the Callie Human Centre.
A total of 629 diplomas and certificates and 2856 degrees were awarded from Tuesday 27 March 2012 to Friday 30 March 2012.

“Use your degree to improve the lives of people. Do justice,” Prof. Jonathan Jansen, UFS Vice-Chancellor and Rector, encouraged the graduates.

“People know it as a university that chooses restoration over revenge and forgiveness over vengeance.”
Mr. Roland Rudd, a Kovsie alumnus, told students that their blood, sweat and tears had paid off.

Mr. Rudd is a former education student who recently was named the Best Secondary Teacher in the Western Cape.
A highlight of the autumn graduation was when Natalie Jordaan received a standing ovation during the ceremony for the Faculty of Economic and Management Sciences. She is the first Deaf student in the history of the university to receive her degree. Natalie’s first language is Sign Language.
Marina Viljoen, a recipient of one of the university’s 12 Dean’s Medals, also received nine awards at the Faculty of Law’s prize giving ceremony. She was awarded the degree LL.B. (summa cum laude).
Johané Nienkemper (B.Sc. Hons.) received the Senate’s Medal and Prize as the best honours student at the UFS, as well as the Dean’s Medal as the best honours student in the Faculty of Natural and Agricultural Sciences.

Potella Sibongile, a Xhosa imbongi (praise singer) and UFS student received his degree in B.Com.Financial Administration. Potella delivered a praise poem to the graduates before they received their degrees, saying they “will now receive a new birth certificate”.

Master’s degrees and doctorates will be conferred at the Bloemfontein Campus on Thursday 14 June 2012.

The graduation ceremony of the Qwaqwa Campus will take place on 12 May 2012. Diplomas/certificates, degrees and doctorates will be awarded during the ceremony.

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