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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

Statement following a protest march on the Main Campus

2006-09-07

Statement by UFS management following a protest march on the Main Campus

A protest march by a small number of SASCO members took place at the University of the Free State’s (UFS) Main Campus in Bloemfontein today (Wednesday 6 September 2006).

At the end of the protest march a memorandum was handed to the Dean of Student Affairs, Dr Natie Luyt.

The UFS Management remains committed to provide quality education to all students at the UFS. The management is also committed to the transformation of the campus and to creating a non-racial, multilingual and multicultural student life.

It must be remembered that certain processes are already in place to address some of the issues raised, such as a Transformation Plan Task Team, which is in the process of drafting a comprehensive transformation plan for the UFS.

Discussions are also already taking place between management and student structures, including SASCO, about certain issues raised in the memorandum.

However, the management will respond to the memorandum using the appropriate channels that exist on campus to communicate with all student formations, including SASCO.

The UFS management wishes to thank the SASCO members for the peaceful and non-violent way in which the protest march was conducted and for which the management had granted SASCO permission.

The UFS management appeals to SASCO to make use of the channels that exist to address the concerns of their members and find workable solutions in the interest of a quality university and quality student life.

Media release
Issued by: Anton Fisher
Director: Strategic Communication
Cell: 072 207 8334
6 September 2006

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