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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

Unbeaten and hosting the Varsity Cup final

2015-03-31

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Not only will UFS Shimlas rugby team host their first-ever Varsity Cup final in Bloemfontein, but they still remain the only unbeaten side in this year’s tournament.

Shimlas knocked the defending champions, the University of Cape Town Ikeys team, out of the tournament during the semifinal in Bloemfontein on Monday 30 March 2015, beating the visitors 21-10. In Pretoria, North-West University’s Pukke crushed top-of-the-log University of Pretoria Tukkies with a close-edged 29-28 win in the other semifinal.

It was the first-ever home semifinal for Shimlas. The home side showed determination from the start of the match when No.8 Niell Jordaan crossed the line early on for the first try of the clash. Shimlas’ Niel Marais was successful with the kick at goal, giving the home side an 8-0 lead..

Shortly afterwards, the Ikeys scored their first try of the match, but were unsuccessful with the conversion kick. Shimlas struck back with a driving maul where flank Daniel Maartens scored the second Shimlas’ try of the night, taking the scoreboard to 16-5 after yet another conversion by Marais.

Ikeys managed to get another unconverted try shortly before the halftime break, leaving the score at 16-10 after the first 40 minutes, with just two conversions separating the teams.

The second half saw less action, but Shimlas’ left wing Maphutha Dolo scored his team’s third and final try of the match, putting them in a 21-10 lead minutes before full time.

Shimlas will host Pukke for this year’s Varsity Cup final on Monday 13 April at 19:00 at Shimla Park, UFS Bloemfontein Campus.

Player that Rocks: Daniel Maartens

UFS Shimlas point scorers:
Tries: Niell Jordaan, Daniel Maartens, Maphutha Dolo
Cons: Niel Marais (2)

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