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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

New SRC elected on UFS main campus

2006-08-23

Ms Loraine Kriek, third-year student in B Consumer Sciences, was elected as SRC President of the Main Campus of the University of the Free State (UFS) for 2006/2007. Ms Kriek was a member of the Student Parliament in 2005/2006.

The most students in the history of the UFS – 6 353 in total – voted in this year’s election. There were only 44 spoiled votes. Last year 4 846 students voted.

“Other than last year, minor incidences of vandalism occurred on the Main Campus by students who were unhappy with the outcome,” said Dr Natie Luyt, Dean: Student Affairs at the UFS. According to Dr Luyt minor damage was caused to the Thakaneng Bridge and some other buildings on the Main Campus.

Kovsie Alliance obtained no proportional representation on the SRC, SASCO obtain 3 seats and the FF+Kovsies obtained 6 seats.

This representation gave Kovsie Alliance 1 seat, SASCO 14 seats and the FF+Kovsies 25 seats in the Student Parliament, which consists of 40 seats.

Nine of the 18 SRC members were directly elected and nine on the basis of proportional representation (PR). The PR system was introduced after amendments to the constitution of the Main Campus SRC were approved by the UFS Council in June 2005.

According to Dr Luyt elections on the Vista Campus will take place today (Wednesday 23 August 2006) and Thursday 24 August 2006. The results will be announced on Friday 25 August 2006. The SRC of the Qwaqwa Campus will be elected on Friday 25 August 2006. If there are no objections to the final results, it will be announced that same day.

The Central SRC, made up of representatives of the 3 campus SRCs, will be announced towards the end of September 2006.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
23 August 2006

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