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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

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UFS academic appointed to prestigious academy (ASSAf)

2014-10-07

Another academic of the University of the Free State (UFS), Prof Jeanet Conradie, professor in Chemistry, was invited as newly elected member of the Academy of Science of South Africa (ASSAf).Science and research, by which new concepts are discovered, is her great passion.

Her PhD degree in Chemistry, together with also a strong background in Physics, Computer Science, Mathematics and Applied Mathematics, influenced Prof Conradie’s choice of research interest and expertise to develop gradually in the direction of computational chemistry, which is a beautiful combination of chemistry and physics.

Computational chemistry uses quantum physical principles and mathematical methods to solve chemistry problems via high-performance computerised calculations. Results obtained can be used to predict and understand the behaviour of atoms and molecules in the real world. Chemical reactions and phenomena that are impossible or too dangerous to study experimentally, can also be studied by computational chemistry. Her research team also does experimental laboratory work to combine and compare with the computational analysis. Based on these results, new materials with specific properties are developed.

The Academy of Science of South Africa (ASSAf) aspires to be the apex organisation for science and scholarship in South Africa, recognised and connected both nationally and internationally. Through its membership which represents the collective voice of the most active scholars in all fields of scholarly enquiry, ASSAf aims to generate evidence-based solutions to national problems.

Prof Corli Witthuhn: Vice-Rector: Research at the UFS said: “The UFS is very proud of Prof Conradie, who is also the first female professor in the Department of Chemistry. Jeanet is a highly productive researcher publishing in high-impact journals. She has extensive international networks and collaborations, increasing the impact of her work even more. We are currently awaiting the outcome of her application for NRF rating and believe that she will receive an excellent rating.”

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