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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

Amphitheatre to energise student life on the Qwaqwa Campus

2015-06-11

The Qwaqwa Campus of the University of the Free State is one of the fastest-growing rural campuses.

Since 2010, the campus has, among other things, built two new student residences, which provide accommodation for an additional 500 students. The old disused boiler room, which was used as a storeroom, has been converted into much-needed ablution and dressing room facilities at the sports fields. The Faculty of Education now boasts a Technology, Engineering Graphics and Design Education laboratory. The project was funded by the Department of Higher Education and Training.

One of the student priorities is a common space in the form of an open amphitheatre in front of the library.

‘’The amphitheatre is a highly-welcomed structure on our campus as it will provide students with an informal environment to study, socialise and meet,’’ said the Campus Principal, Prof Prakash Naidoo.

‘‘We have erected this on an existing space that was already used for outdoor launches and events on the campus, and is in line with our thinking of energising student life on campus. In addition, we have complemented this with the use of solar energy, so that students can just plug in and charge their phones and laptops while they are in the amphitheatre.”

Excited students, Chibi Mosia and Tshilidzi Matshavha, in final-year Chemistry and Chemistry Honours respectively, concurred that the amphitheatre is a good project for the campus.

‘‘It is an important and distinctive feature for the campus as it adds to the growth of our beautiful campus,’’ said Mosia.

‘’It will also enhance the use of alternative energy sources to reduce the campus's carbon footprint,’’ added Matshavha.

The project is worth almost R2,5 m, and took 12 months to complete. The Department of Higher Education and Training also provided the funds for this project.

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