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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

Students selected for prestigious Stanford Sophomore College

2012-04-04

From the left are: Elri Marais, Palesa Mafisa, Prof. Jonathan Jansen, Vice-Chancellor and Rector of the UFS, Goodwill Shelile and Foster Lubbe. Gabriela Schroder and Saeed Abdullah were absent when the photo was taken.
Photo: Hannes Pieterse
4 April 2012

As part of the University of the Free State’s (UFS) comprehensive suite of student leadership development programmes, a strategic partnership with Stanford University, USA has been forged.

Starting in 2012, selected cohorts of high-potential second-year students will annually participate in the Stanford Sophomore College Programme. The UFS and Oxford University in the UK are the only non-Stanford participants in this strategic and unique opportunity.

Following a highly competitive selection process based on both written and oral assessment, managed by the UFS Centre for Teaching and Learning and the Office of the Vice-Chancellor, the first group of six students was recently selected and will visit Stanford University from 1 – 14 September 2012.

The exclusive and high profile Sophomore College has been offered at the prestigious Stanford University on the West Coast of the US for a number of years. It takes the form of a residential summer programme for second-year students who participate and engage in intense academic exploration with peers and professors on a variety of innovative, multidisciplinary topics.

Depending on the course selected, students participate in a variety of intellectual and academic programmes, do research, work in labs, engage in readings of texts and develop presentation skills.

Some courses are held in part or entirely off campus. Advisory sessions to assist students in their preparation, academic orientation and intellectual development will be conducted prior to their departure to add value to the experience at Stanford.

The students will benefit from the programme in many ways, among others the intense academic exploration of topics with an eminent international scholar, immersion in and exploration of a field of interest, the opportunity to hone critical habits of mind, train to become a more engaged and entrepreneurial learners and collaborate and form relationships with friends and peers.

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