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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

The 70th Intervarsity between the UFS and North-West University approaches

2013-07-10

Intervarsity programme (pdf)

In what promises to be a spectacular event, the University of the Free State (UFS) will host the 70th Intervarsity between the UFS and North-West University (NWU) from 9–10 August 2013.

Students, staff and spectators from all three NWU campuses – Potchefstroom, Mafikeng and Vanderbijlpark – will flock to Bloemfontein to participate in one of the country’s oldest sport contests between universities. The rivalry between the two universities is one of the most reckoned events on the local and national sports and student calendars, and it is widely supported.

Rugby, soccer, hockey, netball, volleyball and basketball will satisfy sports fans’ appetite during the weekend. For a more cultural dose, choral singing and debating competitions, as well as dialogue between student leaders will take place. All campuses of the two universities will participate in the programmes.

Rudi Buys, Dean: Student Affairs at the UFS, said the celebration of the 70th Intervarsity between the two institutions will be an important milestone to commemorate decades of friendship, collaboration and healthy competition.

“At Intervarsity 2013 not only do we celebrate a 70-year-legacy of friendship, but also see the potential of another 70 years of shared growth in a new country. We're especially excited with new events that focus on students debating societal issues and celebrating the vibrant diversity of artistic and cultural genres of our society. These events will be remembered for long."

As a run-up to Intervarsity, the university will also host the second annual Intravarsity between the Bloemfontein and Qwaqwa Campuses with sport and cultural teams from the two campuses competing against each other. Intravarsity 2013will behosted on the Qwaqwa Campus and will take place from 26–27 July 2013.

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