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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

UFS becomes Varsity Netball champions – again

2014-10-21

Photo: Catherine Kotze, SASPA

Kovsies has become the first team to successfully defend the Varstiy Netball title when they beat Tuks 49-42 in the 2014 final in Pretoria on Monday 20 October.

University of Pretoria (Tuks) might have been unbeaten for the entire 2014 tournament, but this did not hinder Kovsies in becoming the Varsity Netball champions for a second consecutive time.

From the outset, both these furiously focused teams fought hard and only after ample turnovers could Kovsies finally manage to open the score board.

The Mostert sisters, Karla and Tanya, won a couple of crucial balls, leaving the UFS dominating possession in the opening exchanges.

When Tuks eventually got to scoring, they could not stop the UFS from rushing to a 9-3 lead after the first ten minutes. The visitors had established a 13-5 advantage by the first break, keeping the Pretoria crowd quiet.

The home side came back shooting in the second quarter with great determination, fighting their way back into the game. Tuks ran hard, needing to work hard against Kovsies, who still managed to be in the lead with 22-16 at half-time.

Kovsies made good use of their power play early in the third quarter to stretch their lead further to 30-22. They made the most of their opportunities, going into the final quarter with a 39-31 upper hand.

Even though Tuks made a couple of changes during the final break, they could not avoid defeat in the end.

Kovsies’ Lauren-Lee Christians was also the player of the match, while the champion’s captain, Karla Mostert, was announced as the Player of the Tournament.

This hard-working defender made a number of crucial interventions alongside her sister Tanya in the final. Karla proved that she was the fans’ tournament favorite, claiming the most votes and winning a Samsung S4.

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