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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

International speakers unite to discuss diversity

2014-01-20

The Institute of Reconciliation and Social Justice is hosting a two-day colloquium on 30–31 January 2014. A broad range of keynotes will discuss the topic: ‘Diversity and the politics of engaged scholarship: A comparative study in higher education’.

Prof Jonathan Jansen, Vice-Chancellor and Rector, and Prof Dr Halleh Ghorashi from the Netherlands will lead as keynote speakers on the first day.

Prof Dr Ghorashi is a Professor of Diversity and Integration in the Department of Sociology at the Vrije Universiteit Amsterdam. She is the author of ‘Ways to Survive, Battles to Win: Iranian Women Exiles in the Netherlands and the United States’. She has also published extensively on topics such as identity, diasporic positioning, cultural diversity and emancipation.

During the second day, Dr Charles Alexander from Los Angeles and Prof Shirley Tate from Leeds will lead as keynote speakers.

Dr Alexander is Associate Vice-Provost for Student Diversity at the University of California. He has run several programmes for students who have been underserved by higher education, including students from immigrant families and underrepresented populations. In 2011, Dr Alexander received a Champions of Health Professions Diversity Award from The California Wellness Foundation in recognition of his commitment to increasing California’s health care workforce and its diversity.

Prof Shirley Tate’s work focuses, among others, on theorising ‘race’ performativity and the intersection between 'race' and gender. She has written on mixed ‘race’ identities, affect, beauty, embodiment, pain and women in prison, transracial intimacies, gendered prison identities, racial affective economies in organisations, as well as on domestic work and food.

The sessions led by these keynote speakers are open to the public and the Institution welcomes everyone to join in this topical discussion.

Date: Thursday 30 January 2014 and Friday 31 January 2014
Time: 09:00–11:00
Place: Centenary Hall
RSVP: vannestel@ufs.ac.za

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