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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

Student rights revived

2015-03-30

Lindokuhle Ntuli fulfils his promises.

“I can assure you that each and every promise that I’ve made to the students will be fulfilled.”

That is a promise that Lindokuhle Ntuli, SRC Legal and Constitutional Affairs (Bloemfontein Campus) gave to Kovsie students. The fourth-year LLB student and founder of the UFS Legal Behemoth describes himself as an ambitious person with a passion for law, order, and formality.

He explains the duties of his portfolio as “the office that will really ensure that the interests of all students are catered for. That student’s consumer rights are respected and not violated.” Through his portfolio, he aims to make sure that students are aware of what their rights are.

As part of his portfolio, Ntuli has re-introduced the Student Court, which will be fully functional during the second semester. The portfolio also introduced the Student Engagement Forum. The purpose of the forum is for students to share their grievances with regards to student rights violations. These discussions will take place twice a semester.

“The student engagement forum is the means by which we are able to really assess what kind of rights of the students are being violated,” Ntuli added.

Together with Louzanne Coetzee, SRC Accessibility and Student Support, Ntuli aims to establish the Student Rights Desk. The desk will deal directly with student rights on campus without recourse to the student court or external courts.

When asked about what his vision for the SRC is, Ntuli responded:

“My vision for the SRC is to see the SRC really attending to each and every need of students. We must advocate for students in the best way we can.”

And the words Lindokuhle lives by?

“Law and order exist for the purpose of establishing justice, and when they fail in this purpose, they become the dangerously structured dams that block the flow of progress” (Martin Luther King Jnr).

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