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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

Kovsie Face of Facebook – the search is on

2014-04-07

Victor Ngubeni, our first Face of Facebook winner, 2013/2014

Our sensational Kovsie Face of Facebook competition is about to launch into its second year.

This is a golden opportunity for students who want to be a regular in front of the camera. As the winner, you will present videos for our UFS Facebook and YouTube pages.

How to enter
You need to complete an entry form, which you can download from [KovsieLife] or [Blackboard]. You can also pick up an entry form at the reception desk in the Student Life Centre (SRC Building).

Download Entry form

Submit your completed entry form at the reception desk mentioned above before 10:00 on Friday 11 April 2014.

Auditions
You will need to tell us in a minute, on video, why you should be our next Face of Facebook. Dress creatively, bring along props or posters and let your personality shine through.

The details for the auditions are:

Date: Tuesday 15 April 2014
Time: 08:30 – 13:00 and 14:00 – 16:30
Place: Bloemfontein Campus, North Block (of the Main Building), ground floor

Voting
The top ten videos will be loaded onto our UFS Facebook page. The public can then vote for their favourite by ‘liking’ the video. Remember, only those who have ‘liked’ the UFS Facebook page will be able to vote.

After voting ends, the person with the most ‘likes’ will be the winner and serve as our 2014/15 Face of Facebook.

Now, get those entries in!

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