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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

Spring graduation ceremony

2006-09-15

A three-year old boy from Welkom, Kearabetswe Mokoena, stole the show at the spring graduation ceremony of the University of the Free State (UFS) in Bloemfontein. He was dressed in an exact replica of the academic outfit worn by his father, Mr Ketseletso Mokoena, who obtained his LLB degree from the UFS. The outfit was made by Kearabetswe’s mother Mrs Ennie Mokoena. From the left are Mr Mokoena, his son Kearabetswe, and Prof Frederick Fourie, Rector and Vice-Chancellor of the UFS.
Photo: Lacea Loader

Prof Mos Thulare (acting Rector and Vice-Chancellor of the Central University of Technology) obtained his LL.B. degree during the spring graduation ceremony of the University of the Free State (UFS) in Bloemfontein. On the photo, he is congratulated by Prof Frederick Fourie (Rector and Vice-Chancellor of the UFS).
Photo: Stephen Collett

Altogether five master's degrees in Physics were awarded during the University of the Free State's (UFS) spring graduation ceremony in Bloemfontein. It is the biggest group of master's degrees in the history of the UFS Department of Physics awarded during a graduation ceremony. From the left are: Richard Harris, Puleng Ramoshebi, Prof Hendrik Swart (Head of the UFS Department of Physics), Lisa Coetsee and Etienne Wurth. One of the students, Gerhard Olivier, was absent when the photo was taken.
Photo: Lacea Loader

Altogether 29 doctorates were awarded during the University of the Free State's (UFS) spring graduation ceremony in Bloemfontein. Some of the doctorandi are from the left: Drs Nicholas Mtshali (Chemistry), Candice Jansen van Rensburg (Zoology), Ina Claassens (Physics), Martin Ntwaeaborwa (Physics) and Vicki Tolmay (Plant Breeding).
Photo: Lacea Loader

A great number of students from Africa were among the 29 students who received their doctorates during the University of the Free State's (UFS) spring graduation ceremony in Bloemfontein. From the left are: Drs Amaha Kassahun (Grassland Science) and Tolessa Debele (Soil Science), both are from Ethiopia.

A number of doctorates were awarded to students across the world during the University of the Free State's (UFS) spring graduation ceremony held in Bloemfontein. From the left are: Drs Eli Kohn (from Israel who received a doctorate in Near Eastern Studies), Prof Philip Nel (UFS Department of Afro-asiatic. Studies, Sign Language and Language Practice), Prof Annette Wilkinson (Centre for Higher Education Studies and Development at the UFS) and Dr Padmanabhan Nair (from India who received a doctorate in Higher Education Studies). Prof Nel was Dr Kohn's co-promoter and Prof Wilkinson was Dr Nair's promoter.
Photo: Stephen Collett

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