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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

“We require minds such as yours”

2013-04-19

Gareth Cliff addressed graduates during the UFS Autumn Graduation Ceremony.
Photo: Lelanie de Wet
18 April 2013

Well-known radio personality and Idols South Africa judge, Gareth Cliff addressed graduates on the third day of the University of the Free State (UFS) Autumn Graduation Ceremony.

“It’s a good time be alive, a good time to be a South African, a good time to be a qualified South African,” Gareth said during the graduation ceremony of the Faculty of Natural and Agricultural Sciences.

He emphasised the importance of skills in science in South Africa nowadays. “The only way we can advance is through an education of our minds, through technology, through science, through maths. It’s a time in our country’s development that we require minds such as yours to propel us forward.”

Gareth also underlined the freedom of speech in South Africa, especially in the light of media freedom. “It is something I feel strongly about, something this generation takes for granted.”

Dr Khotso Mokhele, Chancellor of the university, reinforced Gareth’s message and said that graduates need to be able to take standpoint against issues.

Learners from schools in Thaba Nchu and Botshabelo also had the opportunity to attend the ceremony.

The Autumn Graduation Ceremony takes place until Friday 19 April 2013. Attached is the programme for this ceremony.

Friday 19 April 2013

09:30 Diplomas and certificates up to and including honours degrees in the Faculty of Economic and Management Sciences: all diplomas and degrees in the Faculty, except BCom and BComHons.
14:30 Diplomas and certificates up to and including honours degrees in the Faculty of Economic and Management Sciences: only BCom and BComHons.

The Qwaqwa Campus’ graduation ceremony will take place on 8 June 2013. Diplomas / certificates up to and including doctorates will be awarded at this ceremony.

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