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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

Meet the person behind the title – your new FaceOfFacebook

2015-04-29

Kovsies #FaceOfFacebook was born three years ago out of a need to engage with students, and become a virtual friend. Auditions are held every year to choose the new ‘face’ representing the UFS on Facebook. The successful candidate holds the title as #FaceOfFacebook for the next 12 months, attending events, and filming short video clips to post on our Facebook page.

The votes have been counted, and we have a winner. After much excitement and a close contest, Nompumelelo Maseko (whose name, fittingly, means ‘success’) emerged victorious from the top six contestants selected by our panel of judges. We sat down with the soft-spoken Mpumi – as her friends call her – to get a sense of the person who will be our ambassador for the next year.

What is your field of study, and how far along are you?

I am studying for a BSc degree in Genetics, and I’m currently in my second year. I have a particular interest in the forensic sciences, which fascinate me!

Are you originally from Bloemfontein?

No, I am originally from Pretoria.

How is it that you ended up here, studying at the UFS?

Before leaving school, I applied to various universities, but my desires and ambitions brought me here.

How do you find your residence?

Akasia ladies are big on sisterhood, very supportive. Res life is very enjoyable.

What do you hope to accomplish during your term as the #FaceOfFacebook?

I would like to help people become aware of what is taking place on campus. There are many opportunities to be more engaged with what is happening at the varsity. For instance, there are still many people who don’t really know what the #FaceOfFacebook is, and I would like to help inform them about it.

What is your motivation in your studies, in taking part in this contest, and in life?

I am intrigued by the function of life forms, the differences that exist at a cellular level.
For this competition, I fed off my love of people, even though I am shy. I also enjoy presenting.

I have my parents to thank as my motivation, as well as meeting and engaging with people. I find that I achieve a broader perspective when I don’t restrict myself to my own opinions, but strive to be open to differing views.

Nompumelelo will be appearing in one of her first Facebook videos shortly, so be sure to keep an eye on our Facebook page.

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