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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

Kovsie trailblazing track runner sets South African 200 m record

2015-07-16

Photo: IAAF

Wayde van Niekerk became the only South African, and the fourth athlete in the world, to clock sub-20-seconds in a 200 m race on Tuesday 14 July 2015. With this winning time, he became the fourth member of the prestigious quartet, consisting of Michael Johnson, LaShawn Merritt, Isaac Makwala and himself.

The Kovsie gold medallist’s ground-breaking performance saw him beat world-class 200 m specialist and last year's Diamond League race winner, Alonso Edward of Panama. Van Niekerk crossed the finish line half a metre ahead of Edward, who was followed by Fujmitsu Kenji of Japan in the third place.

Van Niekerk's 19.94-time at the Diamond League meeting in Lucerne (Switzerland) set a national record, and improved on his personal best. In 2010, he claimed the World Junior Championship title in Moncton, Canada, by covering 200 m in 21.02 seconds.

Recently, he made history by defeating the London 2012 Olympic Games champion, Kirani James, of Grenada in the Caribbean.

On 4 July 2015, he surged 0.79 seconds ahead of Kirani in his number five lane, becoming the first African to cover 400m in less than 44 seconds. The Kovsie student won the race at 43.96, occupying 10th place on the International Association of Athletics Federations (IAAF) Diamond League all-time list.

Kovsies were still celebrating the gold medalist’s South African record-setting time of 44.24 on 13 June 2015 when he dominated the Diamond League meeting. At the previous race in New York, Van Niekerk improved on his own national record of 44.38. With an impressive dash to the finish line at that particular event, he surpassed Christopher Brown’s 400 m record.

In addition to the country’s record, Van Niekerk made his name as one of the continent’s record-breakers. On 7 June 2015, he broke the 1986 African 300 m record. Van Niekerk replaced Ivorian Gabriel Tiacoh’s best time of 31.74 with a 31.63 championship win at the Birmingham Diamond League meeting. Simultaneously, he bettered Morné Nagel’s 2006 South African national record.

Following his outstanding performance, he was positioned in 10th place on the world list in the men’s 300 m.

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