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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

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Colloquium probes solutions for student hunger

2015-08-03

While higher education is deemed necessary for future financial security, high tuition and accommodation fees, as well as increasing food prices, are forcing students to drop out of university.

Dr Louise van den Berg, Senior Lecturer and Researcher at the University of the Free State (UFS), says university campuses are not often associated with food insecurity, but, due to the increase in first-generation students and students of low-income households receiving tertiary education, student hunger at some of the country’s prominent campuses needs urgent intervention.

On 14 August 2015, the University of the Free State (UFS) will host the first higher education colloquium in the country, on food insecurity on university campuses. Best practices will be shared, exploring the available research on student food insecurity at institutions of higher education. Programme of the colloquium.

A study by the UFS Department of Nutrition and Dietetics found that as many as 60% of students on our campuses were food-insecure, and experienced hunger. This study was the first of its kind in South Africa, and led to the No Student Hungry Bursary Programme (NSH) at the UFS. The level of severe food insecurity reported was much higher than that reported in Australia, New York, and Hawaii by the only other three studies that have been done.

“The UFS is not the only campus struggling with food insecurity,” say Dr Van den Bergh.

“The general misconception is that a student, having money for studies, should have money for food. Funders need to reassess bursaries, keeping issues such as food insecurity in mind, and not just focusing on tuition.”

Bursaries, especially government funding, became easily available to bridge the inequality gap in our country.

“Although bursaries pay for tuition, many students have no resources for food. Universities currently have a 50% drop-out rate currently, with many students dropping out due to poverty.”

What is NSH?

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