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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

Qwaqwa Campus welcomes new Head

2013-04-17

Prof Prakash Naidoo
Photo:Thabo Kessah
17 April 2013

Welcoming video

The Qwaqwa Campus welcomed its new Head in the person of Prof Prakash Naidoo. Prof Naidoo, former Deputy Vice-Chancellor: Finance (Resources and Planning) at the Vaal University of Technology (VUT), received a very warm welcome from the staff, students and the Eastern Free State community.

In response to his welcoming, Prof Naidoo thanked among others, his predecessor, Dr Elias Malete, for his leadership of the campus, as well as the Head: Operations, Teboho Manchu and the Head: Academic, Dr Elsa Crause, for their support during his first few days on campus.

“I am elated to be joining an institution that is serious about transformation. There is still a lot of work ahead to make this campus the best,” said Prof Naidoo.

“Positive vibrancy exists here and all of us must begin to think about how we can multiply the effect to make it even better.”

“This year the campus is celebrating its tenth year in existence as part of the University of the Free State and we have accomplished much in this time. However, there is still a lot to accomplish in the next 10 years. We need progressive change. Let us all look ahead, but let us never forget the past.”

“Today’s students live with greater complexities, like watching too much TV and reading less. They need more counselling and guidance. In my book, students come first. Academic business comes first.”

Prof Naidoo expressed his optimism in working with all internal and external stakeholders.

“I am a team player and we must all develop a working plan for this campus,” Prof Naidoo said.

The welcoming was attended by members of the Council and the Rectorate.

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