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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

Website going dormant from Friday 15 November at 17:00 until Monday 18 November at 07:00

2013-11-09

A modern, crisp new design for the UFS website will launch on Friday 15 November 2013.

The Division: Strategic Communication, in association with ICT Services, has gone to extraordinary lengths to equip the university with a trendy, user-friendly site in keeping with international standards. Focus groups, consisting of staff and students from across all three campuses, were closely involved in the design proses. This will result in a fully-endorsed and proudly-Kovsies website streaming across the globe.

Blackboard (https://learn.ufs.ac.za), GroupWise and the staff Intranet will not be affected by the switch-over.

PeopleSoft Student Self Service will still be available (https://studreg.ufs.ac.za/) as well as KovsieLife Student Self Service (on Bloemfontein Campus only) (http://kovsielife.ufs.ac.za/selfservice) for examination results.

Please take note of the following webpages that will, however, not be available from Friday 15 November at 17:00 until Monday 18 November at 07:00 to users.

Webpages and systems that will be affected:
• UFS website
• Faculty and departmental webpages
• KovsieLife
• Community websites (Afras, Sasse, Vryfees, etc)
• Conferences
• Classified advertisements
• Podcasts
• Student Self Service
• Website administration systems (backend)
• BB Content
• SMS Gateway system

We can hardly wait to share this thrilling milestone in UFS history with you.

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