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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

UFS mourns passing away of pioneer

2005-09-30

Prof Dudley Vermaak (76), founder and former director of the University of the Free State’s (UFS) Research Institute for Education Planning (RIEP), passed away on Friday 23 September 2005 in George as a result of a stroke.

Prof Vermaak was associated with the UFS for about 23 years. A Centenary Medal was awarded to him in October 2004 by the UFS for his pioneering work in transformation through his initiatives, during the apartheid era, to empower education officials, teachers and postgraduate students from disadvantaged communities in South Africa.

He did pioneering work in the eighties with the training of black teachers, especially senior officials and managers in black education, and with the research and training on the improvement of education in the black community.

“Prof Vermaak was a visionary person who understood the changing South African context in the eighties and started at an early stage with work to improve black schools and the training of black leaders in the education sector. He was a true pioneer at the UFS. We are thankful that we could honour him for this with a Centenary Medal last year,” said Prof Frederick Fourie, Rector and Vice-Chancellor of the UFS.

RIEP originally started off as the Research Unit for Education Planning in 1974 under the guidance of Prof Vermaak. During the apartheid years the institute was intensely involved with research about education in the former homelands. It was also the only organisation that could provide complete education statistics, which was necessary for planning, about the former homelands.

RIEP was also involved with service delivery to the so-called independent and self-governing states regarding training in management and planning and support. Several education officials from these areas undertook their M Ed and D Ed studies with the help of RIEP. Some post-1994 education and political leaders include e.g. Lionel Mtshali, premier of KwaZulu-Natal in 1999-2004.

Prof Vermaak was cremated in George. A memorial service will be held at 10:00 on Saturday 1 October 2005 at the Berg-en-Dal Dutch Reformed Church in Dan Pienaar. Prof Vermaak is survived by his wife, Marietjie, four children and grandchildren. He lived in Kiepersol Retirement Village in Bloemfontein for the past six years.

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 September 2005

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