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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

Marieka Gryzenhout receives NRF-NSTF Award

2013-07-03

Dr Gryzenhout
Photo: Sonia Small
03 July 2013

“The award serves to prove that my type of research is truly relevant.” These are the words of Dr Marieka Gryzenhout of the Department of Plant Sciences at the UFS, who received the T W Kambule NRF-NSTF Award as emerging researcher in June 2013.

The award from the National Research Foundation (NRF) and the National Science and Technology Forum (NSTF) gives recognition to her outstanding contribution to science, engineering, technology and innovation (SETI) in the country.

Dr Gryzenhout is also part of the Vice-Chancellor’s Prestige Scholar Programme.

“It was an honour to be chosen as a finalist, but to even win it? Die award indicates the importance of fungi and plant pathogens, and their presence in various biological systems and that it is important to identify and categorise significant plant pathogens and fungi to enable easier access for users of these names.”

Dr Gryzenhout was in the US on the evening of the awards ceremony, attending a workshop on the identification and research of another fungus group, Fusarium. “This group is extremely important, since it includes important plant pathogens, producers of toxins in food and feed, as well as animal and human pathogens, and it also plays important ecological roles.”

She attended the Kansas State University in Kansas and paid a visit to the Bacterial Foodborne Pathogens and Mycology Unit of the US Department of Agriculture in Illinois.

Dr Gryzenhout is also a finalist in the Women in Science Awards hosted by the Department of Science and Technology. The winner will be announced in August 2013. Prof Maryke Labuschagne and Rose Lekhooa are also nominees.

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