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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

2015 Varsity Cup Rugby gets going at UFS

2015-02-09

Kovsies! Are you ready?

It’s that time of the year again when Mondays mean rugby that rocks!

On Monday 9 February, the UFS Bloemfontein Campus will again be bustling with supporters as our Shimlas kick off their 2015 Varsity Cup rugby campaign against the University of Pretoria Tuks.

Students have already been made aware of Varsity Cup excitement during an activation event held at the Thakaneng Bridge on the Bloemfontein Campus on Wednesday 4 February. During this event, the Shimlas captain, AJ Coertzen, introduced his team while KovsieSport held promotional competitions.

New Shimlas coach, Franco Smith, is hoping to transfer his European coaching experience to the UFS first team as he heads into his debut Varsity Cup season. Smith previously held the head coach position at the Pro12 club, Benetton Treviso, between 2007 and 2013.

On the other hand, Tuks are likely to be very determined to bounce back in this year’s Varsity Cup season after missing out on the play-offs as defending champions in 2014.

Therefore, the Shimlas’ debut Varsity Cup match this year should be packed with excitement, thrills, and good old-fashioned running rugby to entertain the student population. Speaking of entertainment, there should be loads more of that happening next to the field during the half-time and strategy breaks.

So Kovsies, don’t miss the first of many great upcoming Shimlas home matches on Monday 9 February at 18:30, only at Shimla Park.

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