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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

Mandela Day celebrated with R5 coin laying

2012-07-09

On 18 July 2012, the University of the Free State (UFS), in partnership with Pick n Pay Hyper in Bloemfontein, will celebrate Nelson Mandela Day with a special R5 coin laying ceremony.

The festivities kick off at 12:00 on the Red Square at the Bloemfontein Campus.

Emeritus Archbishop Desmond Tutu will make a special appearance at this event and also deliver a short message.

Schools in the vicinity, UFS staff and students and the public are invited to take part in the coin laying ceremony.

Ms Marissa van Jaarsveld, the coordinator of the Nelson Mandela Day celebrations at the UFS, says the money collected at the event will be used to benefit the No Student Hungry (NSH) campaign, as well as Bloemfontein Child Welfare. NSH is an organisation on the Bloemfontein Campus that provides food bursaries to hungry students with good academic records.

Requests have been sent to schools to collect R5 coins for the event and representatives from the schools will attend the coin-laying.

These schools will be acknowledged for their contributions and there are prizes up for grabs for the primary and high schools that collect the most money.

Learners will deposit their coin contributions during the 67 Minute programme of giving back to the community and they will take part in fun activities. Participating schools are encouraged to be as creative as possible when handing over their R5 contributions.

On the day, there will also will be people with tins at the main entrances to the university for those who want to make a contribution.

The NSH-campaign will also show its support for eradicating world hunger on this day by helping Pick n Pay Hyper in Bloemfontein to package food parcels for the Stop Hunger Now campaign. The packaging of the food parcels will also take place at the UFS.

Members of the public and the media are invited to attend the festivities.

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