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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

Dr Sheila Aronstam receives UFS Alumnus of the Year award

2014-10-23

Dr Sheila Aronstam, recipient of the Kovsie of the Year award and Pieter du Toit, Chairperson of the Kovsie Alumni association.
Photo: Dries Myburgh

The Office for Institutional Advancement at the University of the Free State honoured ten people at this year’s Kovsie Alumni dinner.

Dr Sheila Aronstam received the Kovsie Alumnus of the Year award. Dr Aronstam previously served for eight years on the management of the UFS, where she played a prominent part in the transformation of the UFS. In 2004, with the centenary celebrations of the University of the Free State, Dr Aronstam received a centenary medal for her contribution towards transformation.

She also served on the Council and the Executive of the University of the Free State for period of five years.

In 2014, after a lifelong commitment to Bloemfontein and the University of the Free State, Kovsie Alumni honoured Dr Aronstam as Alumnus of the Year. “Her legacy of equality, tolerance and charity will live forever within the borders of the University of the Free State and the City of Bloemfontein,” said Pieter du Toit, Chairperson of the Kovsie Alumni association.

At this event, Cum Laude awards were bestowed on:

-       Chris Botha, Group Managing Director of Media Shop
-       Pauline Gutter, Free State-based artist
-       Tate Makgoe, MEC for Education in the Free State
-       Jans Rautenbach, South African screenwriter, film producer and director
-       Johan Volsteedt, former principal of Grey College and involved with the television series Dream School SA.

The Ambassador Award was presented to:

-       Odeion String Quartet at the UFS
-       Sibusiso Tshabalala, programme coordinator of the World Design Capital promotion project.

Executive Management Awards were bestowed on:

-       Prof Johan Nel (Emeritus Assosiate Professor UFS )
-       DB Prinsloo, Director of KovsieSport at the UFS.

Kovsie Alumni also bestowed honorary president awards on Prof Nico du Plessis and Adv Mauritz Randlehoff.

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