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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

Nominations for Kovsie Alumni Awards now open

2014-07-15

It is time for the Kovsie Alumnus Awards Dinner again. The University of the Free State’s (UFS’s) Alumni office invites the UFS community and the public to nominate alumni for the Kovsie Alumnus awards.

This year’s dinner will be held on Friday 19 September 2014, where alumni and staff will be honoured for their outstanding contributions and achievements during 2013 – either in their personal capacity or in their respective professional fields.

Nominations are awaited in the following categories:

• Kovsie Alumnus of the year
The Kovsie Alumnus of the Year Award honours the outstanding achievements of a Kovsie alumnus on national or international level. The person must still be alive.

• Cum Laude Award
The Cum Laude Award is occasionally bestowed on an alumnus for outstanding service or achievement on regional, national or international level in their field of work.

• Executive Management Award
The Alumni Award for outstanding service to the UFS is occasionally made to any person (not necessarily an alumnus) who delivers/delivered exceptional service to the university.

• Kovsie Alumni Ambassador Award
The Kovsie Ambassador Award is awarded from time to time to any person (not necessarily an alumnus) who continuously delivers/delivered excellent service to the university and who has a passion for the university.

Send nominations to Kathy Verwey of the UFS’s Alumni office at verweyke@ufs.ac.za on or before Friday 18 July 2014 or phone +27(0)51 401 9343 for more information.

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