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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

Milestone graduation for the UFS Qwaqwa campus

2004-10-09

From left: Prof Peter Mbati:Campus Head;Prof. Frederick Fourie :Rector and Vice Chancellor and Mrs BS Tshabalala Director of Education: Thabo Mofutsanyane District

On 9 October,2004, the Mandela Hall at the UFS-Qwaqwa Campus was filled to capacity as the community gathered to celebrate the graduation of 177 students. Among the degrees awarded were : one doctorate , eight masters,31 honours and 46 bachelors. In addition, there were also 91 diplomas awarded.

The conferring of the first doctorate in the Natural and Agricultural Sciences to Dr Motseki Hlatshwayo made a history for our campus, because it was done for first time. This is a cause for celebration and attests to the resilience of staff and students, and to the commitment and support of our immediate community for the continued offer of relevant post graduate training here on the Qwaqwa campus of the University of the Free State.

Amongst the dignitaries was the Director of Thabo Mofutsanyane District, Mrs BS Tshabalala. In his welcome speech, the Campus Head, Prof Peter Mbati said “ a special day like today is normally only possible due to the dedication and commitment of many different individuals. It is therefore only fitting that we salute you the parents and guardians for all your sacrifices to ensure that your children get the best education”

The 1st Deputy President of the SRC, Mr Tello Motloung also adressedthe granduands. “The year 2004 calls for celebration, as we are celebrating 10 years of democracy. Therefore, it is not a coincidence that we are also meeting

Media release:Ms Jabu Dakile

Senior Liaison Practitioner

UFS-Qwaqwa Campus

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