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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

Ranks of NRF researchers at Qwaqwa Campus strengthened

2014-11-03

From the left are: Profs Birhanu Dejene, Oriel Thekisoe, Drs Aliza le Roux and Geofrey Mukwada. (Prof Riaan Luyt was absent due to being abroad.)
Photo: Thabo Kessah

The list of researchers at the UFS Qwaqwa Campus rated by the National Research Foundation (NRF) was strengthened with the addition of Dr Geofrey Mukwada, who will have recognition as established researcher (C) from 2015.

Mukwada is working in the Department of Geography. His research focus is rural livelihoods, sustainable rural livelihoods, conservation of natural resources and climate change.

A total of 119 UFS researchers currently have evaluation and rating status from the NRF, says Nico Benson, Deputy Director: Research Development. Currently (October 2014) 29 researchers are still waiting for response from the NRF regarding applications submitted. A total of 16 ratings are already known. Ratings are valid for a period of six years and researchers are invited to apply for re-evaluation in the fifth year.

On the Qwaqwa Campus, Profs Riaan Luyt and Birhanu Dejene enjoy status as established (C) researchers – Prof Luyt in polymer nano-composites and polymer compounds and Prof Dejene in solar energy (photovoltaic).

Dr Aliza le Roux and Prof Oriel Thekiso are recognised as promising young (Y) researchers. Dr le Roux’s research focus is behavioural ecology, predator-prey interaction, spatial cognition, cognitive ecology, communication, zoology, individual-based modelling, animal behaviour (primates, carnivore biology) and socio-biology (mammals).

Prof Thekisoe is conducting research on applied molecular diagnostics, ectoparasites, blood parasites, helminthology, molecular parasitology, entomology and parasitology, veterinary parasitology, parasitological techniques, host-parasite interaction and zoonosis.

These researchers are proud export products of the University of the Free State.

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