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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

Now is the right time to talk, says Njabulo

2015-04-20

Njabulo Mabaso

Studying at a multicultural campus adds a lot of colour and spice towards every student’s experience, and it also offers some necessary challenges.

This belief is held by the Qwaqwa Campus SRC member responsible for RAG, Community Service & Dialogue, Njabulo Mabaso.

“Our multi-culturalism should be our uniting force, especially at this time in our country. What started as a one-person protest against the Cecil Rhodes statue at UCT should be used to broaden our view in relation to challenges that we are still facing as students and as a country. We need to talk more”, said Mabaso, a final-year BEd FET Languages student.

“Now is the right time for us to really talk about issues affecting us as young adults. Matters of collective interest like pregnancy rates, alcohol and substance abuse, sexism, crime, xenophobia, etc. need to be tackled”, added Mabaso, a weightlifting fanatic.

“As the student leadership, we intend working closely with community structures as we come from the very same communities. We must not wait for Mandela Day to do good.”

“My portfolio, together with Arts and Culture and Sports Affairs portfolios, can create that necessary social cohesion that we as students and our communities need so much.”

Mabaso said that all perceived taboos should be dealt with.

“Our programme this year encourages open dialogue. Nothing should still be treated as a ‘no-go area’ if we are to survive the scourge of HIV. We must talk openly, despite the cultural challenges that might restrict us. We must talk about homophobia. We must talk about rape. In fact, how many students – male and female – really understand what rape is? Does culture even recognise the ‘no’ factor associated with rape? It is important that we should not leave it until it is too late. We must not wait until it is his word against hers. We must deal with these matters now. The right time to engage is now”, he added.

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