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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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Young researcher from UFS on SAYAS executive committee

2014-10-28

Dr Aliza le Roux
Photo: Sonia Small

Dr Aliza le Roux from the Department of Zoology and Entomology on the UFS’s Qwaqwa Campus is one of ten young scientists who was recently inaugurated as a new member of the South African Young Academy of Science (SAYAS). Not only was she inducted into the society this past October, but she was also elected to serve on the executive committee for SAYAS.

Dr Le Roux’s research focus is on cognitive ecology, behavioural ecology and zoology. She has expressed her excitement about the new position, and is already developing new ideas with her new colleagues on drawing more young people into the South African scientific community.

This position provides a regional and international platform to raise the profile of science in general, and Le Roux hopes to be active in SAYAS’s new mentorship collaboration with the New York Academy of Sciences, and to introduce new methods of scientific outreach using social media. Inspired by the students on the Qwaqwa Campus, Dr Le Roux hopes to specifically target relatively isolated rural campuses in SAYAS’s activities.

Prof Corli Witthuhn, Vice-Rector: Research at the UFS, said, “Aliza le Roux is an outstanding young scientist on our Qwaqwa Campus. I am very excited about the young researchers on our Qwaqwa Campus with Aliza as one of the leaders, and I am looking forward to what else they can achieve in the next five years.”

SAYAS was launched in October 2011 with 20 founding members as a mechanism to propel South Africa’s young scientists to fully participate in relevant local and international research and development agendas. It provides a national platform where leading young scholars from all disciplines in the country can interact, and also access international networking and career development opportunities.

SAYAS contributes primarily to the achievement of the national strategic priority of strengthening the skills and human-resource base of the country. Its particular niche is to focus on strengthening high-level skills among young scientists and the promotion of scientific excellence.

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