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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

Albert Einstein “visits” Bloemfontein

2005-08-30

Albert Einstein, performed by David Muller, and Dr Matie Hoffman, senior lecturer from the Department of Physics at the UFS and coordinator of educational activities at the UFS Boyden Observatory. They are standing at the 1,5m Boyden telescope.

Visitors to the University of the Free State’s (UFS) Boyden Observatory had a special treat on Saturday 27 August 2005 when they were “Albert Einstein”, alias David Muller (Albert Einstein in Imagining Einstein) paid them a surprise visit.

The Department of Science and Technology is sponsoring a one-man play called Imagining Einstein. The play, written and performed by David Muller, is produced through the MTN Science Centre and forms part of the celebration of the World Year of Physics. The play’s visit to Bloemfontein was kicked off by Saturday evening’s performance at the UFS Boyden Observatory.

It follows the life of Einstein, from his patent office in Switzerland, through his office in Berlin to his position at Princeton where he spent the last 20 years of his life and captures the research, studies and thinking with all its depth and insights of a man who not only changed the thinking about physics but also had much fun doing so.

The play will be presented on Tuesday 30 August 2005 and Wednesday 31 August 2005 at 10:00 and 19:00 in the Albert Wessels Auditorium on the UFS campus. Entrance is free of charge. For bookings, please contact (051) 401 2561.

On Thursday 1 September 2005 the play will be presented at 10:00 and 19:00 at the Sterrewag Theatre on Naval Hill. Tickets are R10 per person for the 10:00 show and R30 per person for the 19:00 show and are available from PACOFS booking offices or by calling (051) 447 7772.

Media release
Issued by:  Lacea Loader
   Media Representative
   Tel: (051) 401-2584
   Cell: 083 645 2454
   E-mail: loaderl.stg@mail.uovs.ac.za
29 August 2005

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