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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

Deputy Minister leads a space science outreach programme in Bloemfontein

2014-02-28

The Deputy Minister of Science and Technology, Michael Masutha and Mandla Maseko– the first black South African expected to go into space in 2015 – will participate in a Space Science Outreach Programme at the University of the Free State on Saturday 1 March 2014.

The event, taking place at the Bloemfontein Campus, is part of an outreach programme to raise awareness about South Africa’s advances in space science and technology and its benefits to society.

Mr Maseko will share his exciting experiences in the Axe Apollo Space Academy competition, a challenging event that included skydiving, aptitude tests and building and launching a rocket with about 600 learners from the surrounding areas. The 25-year-old from Mabopane near Pretoria will become the first black astronaut when he goes into space on the Lynx Mark II Shuttle, next year.

The outreach event will include activities such as telescope making and rocket launching. Workshops demonstrating the benefits of space science in areas such as earth observations, scientific research and development and human capital development, will also be conducted.

Among others, the open day will feature exhibitions such as the project to build the world’s largest telescope, the Square Kilometre Array and the recent launch into space of the country’s micro-satellite – ZACUBE1 built by post-graduate students at the Cape Peninsula University of Technology (CPUT).

Other exhibitors will include the Hartebeesthoek Radio Astronomy Observatory (HartRAO), the Agricultural Research Council, Denel Dynamics, the South African National Space Agency (SANSA) and the South African Weather Services (SAWS).

Officials from the provincial Department of Basic Education are also expected to attend.

Journalists are invited to the outreach

Venue: Economics Building, University of the Free State
Date: Saturday 1 March 2014
Time: 08:00

For more information, contact Veronica Mohapeloa at +27(0)82 882 3818 or +27(0)12 843 6788 or email veronica.mohapeloa@dst.gov.za OR David Mandaha at +27(0)72 126 8910 or david.mandaha@dst.gov.za

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