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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

Prof Oriel Thekisoe receives prestigious TW Kambule NRF-NSTF Award

2014-07-07

Prof Oriel Thekisoe
Photo: Sonia Small

Prof Oriel Thekisoe from the UFS was named recipient of the prestigious TW Kambule NRF-NSTF Award. The announcement was made during the 16th Annual NSTF-BHP Billiton 2013/2014 Awards Gala Dinner held in Johannesburg on Thursday 3 July 2014.

Prof Thekisoe is an Associate Professor in the university's Department of Zoology and Entomology at the Qwaqwa Campus.

He has been recognised as an emerging researcher for his outstanding contribution to Science, Engineering and Technology (SET).

"It is a great honour for the university to learn that Prof Thekisoe has won the award of the National Science and Technology Forum. This is a very competitive award and speaks of the quality and depth of talent at the UFS as we prepare the next generation of scientists and scholars,” said Vice-Chancellor and Rector of the UFS, Prof Jonathan Jansen.

"I hope that the award will inspire our current science students to work harder in pursuing the discovery of new methods and techniques which will improve our livelihoods,” Prof Thekisoe said after receiving the award from the Minister of Science and Technology, Ms Naledi Pandor. “I am grateful to the Dean of the Faculty of Natural and Agricultural Sciences, Prof Neil Heideman, for believing in me. I am also grateful to my former lecturers, Profs Peter Mbati, who is now the Rector of the University of Venda, and Noboru Inoue, from Japan’s Obihiro University, for grooming and inspiring the scientist in me.”

"Prof Thekisoe is at the forefront of the research development activities at the Qwaqwa Campus,” said Prof Corli Witthuhn, Vice-Rector: Research at the UFS. “He serves as a mentor to many of the younger scholars on the campus. As one of the Vice-Chancellor's Prestige Scholars at the university, he has the potential to become one of the most prominent researchers in his field in the country."

The Vice-Chancellor’s Prestige Programme (PSP) supports the accelerated scholarship of junior UFS researchers in the first five years after obtaining their PhDs. The prestige scholars participate in an intensive programme of support that includes international placement and intensive mentorship.

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