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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

New infrastructure development project planned for the Bloemfontein Campus

2015-06-03

Illustration by Incline Architects

The university community can look forward to two new infrastructure development projects on the Bloemfontein Campus. The construction of a new parking area for staff and students accommodated in the new Education Building, will begin as early as June 2015.

The project includes 113 parking places for students and 16 covered parking places for staff. According to Nico Janse van Rensburg, Senior Director at University Estates, the project will be tackled using several green approaches. “The parking area’s lighting will be solar-powered. The surface will not be the normal paving stone but will permit the water to drain into the ground and in this way be more environmentally friendly and minimise the greenhouse effect,” he says.

Several indigenous trees will beautify the area.

The new parking area will be situated opposite the UFS Sasol library’s student parking area, between the cricket field and the present parking area at the Education Building.

The second project involves a new roof structure at the Bloemfontein Campus’s main entrance security gate.

Since August last year, the university has been enforcing rigorous entrance controls. No person can access any of the five entrances of the Bloemfontein Campus without a valid entrance card. Should individuals not have a card, they must access the campus at Gate 5 in DF Malherbe Avenue where a temporary access card will be issued to them. Scanning for visitors and service providers is also available at Gate 1 (Nelson Mandela Drive) and Gate 5 (DF Malherbe Avenue).

The roof structure at the main entrance will serve as a security point. Primarily, it will provide shelter from the elements for those staff manning the area.

Nico says that the plan is to complete the projects before the end of the year. The projects are currently in the planning phase.

“The gate may possibly be closed for a day or two but the main work will be done during weekends. Certain lanes may also be closed from time to time to ensure the safety of both users and construction workers,” says Nico.

Staff and students will be advised well in advance if and when the gate will be closed.

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