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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

The Great Pool of Exhilaration

2015-02-11

Photo: Albert van Biljon

Photo gallery

Boys’ roars and ladies’ shouts could be heard from miles away. From this, one could tell that the 2015 first-year’s Swimming Gala was bound to be an exciting one.

While RC Sports members were stressing, the first-years blissfully continued in song and excitement.

One would think that, after a hectic first week of classes, first-years would not have much energy left, but the atmosphere proved that Residence Committees (RCs) had prepared the individuals with rather motivating pep talks before the event. Most male residences put their best foot forward, not holding back on themed attire and additional instruments, while female residences sang and danced to the music provided. Not only were the masses competing to claim that they had the greatest spirit on this night, but they were also waiting to hear the results of the Spirit Cup for the first-years’ Athletics, which was cut short due to heavy rain showers. This simply added to the already intense anticipation of first-years and RC Sports members, as they would receive the results only at the end of the event.

The competition was tough as many of the first-years who competed moved with ease in the water as though it was second nature to them. This year’s gala saw quite a few talented, national swimmers competing, which left those who swam for pride and points intimidated. The excitement of the crowd was heightened as the relay section of the programme approached. This meant that the winners were to be announced soon.

In the ladies’ section, the residences were placed:
• 1st – Marjolein
• 2nd – Wag-‘n-Bietjie
• 3rd – Sonnedou

In the men’s section, the residences were placed:
• 1st – Armentum
• 2nd – Vishuis
• 3rd – Karee

When the time arrived for the announcement of the Spirit Cup winners, many were hopefully clenching their hearts for their name to be roared out. In most people’s opinion, it came as no surprise when Armentum walked away with the Spirit Cup for both the first-years’ Athletics and the Swimming Gala. Furthermore, Armentum’s broader South College community – of which Emily Hobhouse, Marjolein, NJ vd Merwe and Villa Bravado are also part – walked away with the cash prize for the best mascot.

By end of the night, everyone, no matter if they were drenched or dry, experienced the exciting sporting atmosphere at Kovsies that they’ve now become a part of.

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