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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

Latest information technology employed to make learning in Disaster Management easy

2014-10-20

Prof Dusan Sakulski
Photo: Leonie Bolleurs

Live, colourful, interactive, real-time-calculated. This is how Prof Dusan Sakulski, researcher and lecturer from the UFS’s Disaster Management Training and Education Centre for Africa (DiMTEC), describes his e-learning platform implemented in this department.

Rather than producing research that gathers dust somewhere in a cabinet, Prof Sakulski believes that research should be used to make life easier, not only for society, but also for his students.

This educational civil engineer, who is responsible for information technology implementation in disaster risk management, developed through his research several programs to optimise the three contact sessions DiMTEC students have to attend each year.

One of the initiatives implemented by Prof Sakulski and his daughter Teodora, was the recording, editing and compiling of theoretical lessons and making it available to students online. “Students then don’t have the excuse of missing a class. Furthermore, it allows them to rather focus on group work during contact sessions and to discuss problems they encountered with the work,” he says.

Students also have access to an early-warning system portal for the prediction of hazards, including droughts, floods, rain and temperature. In the disaster-risk environment, this program is very useful, not only for students, but also for practitioners working with this kind of data on a daily basis. The operational and educational application works in real time – with the click of a mouse students and practitioners have access to information on current weather conditions. Indicators for possible natural disasters are also built into this program. Truly a useful application when you are working in the field of disaster risk management.

Difficult and technical data are presented live, with information that is colourful, interactive, real-time-calculated and audible, thanks to embedded mathematical language. In this way, students can learn, memorise and understand their work better.

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