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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

Get your dual-frequency card

2015-07-28

Staff members and students, who are the owners/drivers of motor vehicles, are kindly requested to purchase the dual-frequency cards that replace their current student or personnel cards.

The dual-frequency cards can be read by the distance readers at the entrance gates. Card holders will no longer have to swipe their cards or stop; the boom will open automatically and card holders will be able to drive through.

Please note that this arrangement only applies to valid card holders entering the campus – on leaving the campus, they will again have to swipe their cards past the card readers.

This improves the traffic flow and prevent possible delays at the gates.

Pay for your card

Electronic fund transfers: Absa Bank: 1 570 8500 71, Ref: 1 413 07670 0198, OR pay the R65 at the UFS Cashiers, Thakaneng Bridge.

Take your existing personnel or student card, together with proof of payment, to the UFS Card Division, Bloemfontein Campus, Thakaneng Bridge, to have your photo taken and your new dual-frequency card issued.

The UFS Cashiers will provide assistance between 09:00 and 14:30, and the UFS Card Division between 09:00 and 15:00.

Your new card

Permission to access specific UFS buildings or facilities linked to your existing card, will automatically be linked to the new card.

The new card is marked ‘dual’ on the back in the right, bottom corner.

The UFS would like to thank you for your cooperation in the successful implementation of access control on the UFS Bloemfontein Campus.

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