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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

Five from UFS’s Department Quantity Surveying win prestigious awards

2014-11-17

Prof Kahilu Kajimo-Shakantu

Photo: Leonie Bolleurs

The University of the Free State (UFS) is very proud of five of its students who won the Kenneth K. Humphrey award at the recent International Cost Engineering Council (ICEC) conference held in Milan, Italy. Justin Haselau received the outstanding paper award. His study leader was Prof Kahilu Kajimo-Shakantu, Head of the Department of Quantity Surveying at the UFS.

The ICEC is an organisation aimed at promoting cooperation between national and multinational cost engineering, quantity surveying and project management organisations worldwide, to the benefit of the industry and that of individual members.

The students received this prestigious award for the outstanding papers they delivered. The award is presented to authors under the age of 36. Submissions come from all over the world and were adjudicated by an independent panel.

The other recipients were:

1.      Marique Kamperbeek – (study leader: Prof Kahilu Kajimo-Shakantu, 2013)
2.      Tshego Matshwi – (study leader: Prof Kahilu Kajimo-Shakantu, 2013)
3.      Matlakal Radebe – (study leader: Prof Kahilu Kajimo-Shakantu, 2013)
4.      Elana Malherbe – (study leader: Dr Benita Zulch, 2012)

The winning papers were included in the electronic version of the ICEC’s International Cost Management Journal (ICMJ).

This is already the third time the university has won these awards.

Prof Kahilu Kajimo-Shakantu, Head of the Department of Quantity Surveying and Construction Management at the UFS, says she is very proud of these achievements.

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