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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

Shimlas still the only unbeaten side in 2015 Varsity

2015-03-18

The Shimlas remain the only unbeaten side in this year’s Varsity Cup rugby tournament after their bonus-point 44-24 win against the University of Cape Town Ikeys in Bloemfontein.

The home side managed a very comfortable 34-8 lead in the first half against the defending champions Ikeys. No matter how hard the Ikeys fought back, the Shimlas win was inevitable, and secured the first ever home semifinal at the UFS.

It was in the second minute that Shimlas’ Gerhard Olivier went over the try line. The Shimlas continued to press forward, and kept the game play primarily in the UCT half of the field. By the time the first Strategy Break came along, the Shimlas already had a 21-0 lead over their visitors. The Ikeys did manage one converted try before halftime, still leaving the home side with a 34-8 lead.

After halftime, there was still no stopping the Shimlas. Even when UCT’s attempt at a comeback saw them scoring their second converted try, the point difference were still 18 points. Shortly after, Olivier scored his third try for the Shimlas. The Ikeys’ response to this was scoring a third try in their comeback effort, putting the scoreboard at 39-24 with Shimlas still in the lead after 65 minutes.

Despite Ikeys’ attempt for their bonus point try near fulltime, Shimlas’ counter-attack saw their replacement player Boela Venter cross the try line for the last time to secure a 44-24 win for the home side.

The Shimlas will host North-West University’s Pukke side at Shimla Park in the last round of the tournament this coming Monday. For the first time since the Varsity Cup’s inauguration in 2008, the UFS side has already secured a home semifinal for the week after.

Shimlas point scorers:

Tries: Gerhard Olivier (3), Johan van der Hoogt, Danie Maartens (2), Boela Venter
Conversion kicks: Niel Marais (3)

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