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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 new entrance to the Qwaqwa Campus is now open

2014-02-03

The greatly-anticipated entrance proudly welcomes everyone onto the Qwaqwa campus.

The new entrance to the Qwaqwa Campus gleams and shimmers in the morning sun after almost a year of construction.

Meanwhile, construction of the new 150-bed student residence and Geography/Physics Building has just commenced.

“The new residence comprises four double-storey and two triple-storey sections, one caretaker's house and a service room,” said Makere Mofokeng from Physical Resources. “The Geography/Physics Building, situated just opposite the Faculty of Natural and Agricultural Sciences, is a double-storey and it comprises a boardroom, nine offices, 20-seater chemical physics lab, 20-seater postgraduate physics lab, 20-seater physics instrument research lab, 20-seater dry physics lab, darkroom, 180-seater lecture hall, two storage facilities and ablution facilities on the ground level.

“The following facilities are on the first floor: boardroom, 10 offices, 360-seater lecture theatre, 102-seater geography lab, 198-seater geography lab, 20-seater postgraduate geography lab, three storage facilities and ablutions,” Mofokeng said.

The Geography/Physics building is expected to be completed in December 2014 and the new residence in February 2015.

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