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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

University is proud of its women in science

2013-08-17

Dr Marieka Gryzenhout
Photo: Sonia Small
19 August 2013

Two lecturers in the Department of Plant Sciences received national recognition for their research at the Women in Science Award 2013 function of the Department of Science and Technology (DST) on Friday 16 August 2013. Dr Marieka Gryzenhout received the award as Young Women Scientist and Prof Maryke Labuschagne was first runner-up in the category Distinguished Women Researcher, both in Life Sciences.

The third award-winner was Rose Lekhooa in the Doctoral Fellowship category. She is studying toward a PhD in Pharmacology and said the fellowship will enable her to attend seminars and workshops internationally.

Friday’s award was the second, in as many months, for Dr Gryzenhout. She received the TW Kambule NRF-NSTF Award as emerging researcher in June 2013. She was the recipient of the International Union of Forestry Research Organizations’ Outstanding Doctoral Research award in 2010.

Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS, said, “Dr Gryzenhout represents one of a growing group of very impressive young scientists at the university who are emerging as leading international scholars in their fields.

“Her international leadership in mycology research has already made significant impacts on the African continent and beyond. The university will continue to invest in these young academic stars through its Prestige Scholars Programme where scholars like Dr Gryzenhout are increasingly well-placed to be the next generation of scientific leaders in the world.”

“It as a great privilege to receive the award, especially as second one in this year,” Dr Gryzenhout said. She established a research programme, Mycotoxigenic and Phytopathogenic Fungi, at the UFS. She is president of the African Mycological Association and general secretary of the International Society for Fungal Conservation. She is also a member of the Nomenclature Committee for Fungi – a permanent committee of the International Botanical Congress.

Prof Labuschagne received the African Union Kwame Nkrumah award for life and earth sciences in 2011, and the National Agriculturalist of the Year Award and the National Science and Technology Forum (NSTF) Award for research-capacity development over the last five to ten years, both in 2008.

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