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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

Sought-after fellowship for Deaf Kovsie academic

2012-04-25

Magteld Smith
Photo: Provided
25 April 2012

For a Deaf person to achieve academic excellence in a sound-dominated world is extremely challenging, but Ms Magteld Smith sees each challenge as another opportunity.

Ms Smith, a Medical Social Researcher at the University of the Free State (UFS), recently received the Herbert H Humphrey fellowship. She is one of only two South Africans to receive this fellowship.

The Humphrey Fellowship Program provides mid-career professionals from designated countries around the world with an opportunity to enhance their professional capabilities through participation and is developed specifically for small clusters of Humphrey Fellows at 18 selected US universities.

It was initiated in 1978 to honour the memory and accomplishments of the former Senator and Vice-President, Humbert H. Humphrey. Fellows are selected based on their potential for national leadership and commitment to public service, in either the public or private sector. The programme provides a basis for establishing long-lasting productive partnerships and relationships between citizens of the United States and their professional counterparts in other countries, fostering an exchange of knowledge and mutual understanding throughout the world.

Ms Smith applied for this fellowship, but was still very surprised when she heard her application was successful.

“Upon receiving the news, in my mind I saw an enormous rotating world globe and I asked my Heavenly Father, "What is happening now?" I saw big libraries with books, laboratories, state of the art technology for people with hearing impairments, big cars, big houses, big trucks, big farmers, big women and the White House with big trouble. Furthermore, I saw how the UFS became the world leader of academic excellence and change for people with disabilities with high technology manufacturing and rehabilitation programmes.”

Ms Smith says Prof. Jonathan Jansen, UFS Vice-Chancellor and Rector, is a great asset, because for the first time people with disabilities are high on the priority list.

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