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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

Inaugural lecture challenges leaders in higher education

2012-10-30

Dr Mamphela Ramphele
Photo: Stephen Collett
29 October 2012

Lecture (Pdf format)

According to international statistics, South Africa’s school performance is rated 140th out of 144 countries. South Africa is also ranked 143rd out of 144 countries when it comes to the quality of mathematics and science. About 600 000 South African graduates are unemployed and about 500 000 learners are failed by our current education system.

Dr Mamphela Ramphele brought these shocking statistics to the light at the inaugural lecture of the Annual Prestige Lecture at the Faculty of Education on Thursday 25 October 2012 at the University of the Free State (UFS).

This lecture will henceforth be known as the Mamphela Ramphele Prestige Lecture.

Dr Ramphelefocused her lecture on ‘Educating the 21st century citizen’.

“One of the defining characteristics of the 21st century is the vast number of choices that confront us every day at a personal, professional and political level.”

She asked if 21st century South Africans are equipped with the skills to make the choices that confront them daily.

“The failure to transform our apartheid education into one characterized by equity and excellence, is producing graduates who lack self-confidence.”

Dr Ramphele said that in South Africa about 1/6th of government expenditure goes to education, but the outcomes remain shocking.

For Dr Ramphele the answer lies in creating platforms for open conversation about South Africa’s painful past and the agenda for radical socio-economic restructuring should include the fundamental transformation of education.

She praised the UFS, under its current inspirational leadership, for its role as change agents through the education.

Prof. Rita Niemann, senior professor at the Faculty said the Annual Mamphela Ramphele lecture is to further expand and celebrate education in South Africa.

“Dr Ramphela has given us so much food for thought by challenging leaders in higher education to speak out about the questionable state of education in South Africa and to become engaged in the ‘revolution of the spirit’ in order to deliver citizens who own and shape the country.”

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