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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

Social work students off to Sweden on exchange programme

2015-08-17

Excited about the prospects of studying in Sweden, Letttie and Moratoe already have their bags packed. Photo: Valentino Ndaba

In 2011 the university signed an exchange programme agreement with Jönköping University (JU), in Sweden. Since the inception of the contract the UFS Department of Social Work has been able to send two second year students to the guest university for a semester annually while also hosting students from JU.

The UFS is one of only 350 partner universities that JU co-operates with on an international level. The university that describes itself as “the most international university on Sweden” welcomes 714 exchanged students annually. This year, their School of Health and Welfare will host two of our Social work students, Moratoe Tshabalala and Lettie Mohoko; who are the fourth duo to take this unique opportunity.

These Kovsies will join the JU from 17 August-20 December 2015. By focusing on Swedish Social work and welfare policy, participation and inclusion, and Old-age care, they intend to use the learning experience to influence our country’s welfare system.

Growing up in Wesselsbron - a small town in the Free State, Lettie has always been passionate about working with people and having a positive impact on their lives. She sees the exchange programme as an opportunity to gain an international perspective which will provide more skills, hence improving her community engagement.

Moratoe, who is from the small town of Senekal, echoed similar sentiments, adding that she is interested in the distinctiveness of Sweden’s social welfare system, which offers free education, where old people get free care from the government, and children get incentives to attend school.

Lettie and Moratoe also volunteer as representatives of the UFS at ENGO Family Care, a non-profit organisation in Bloemfontein.

Dr Anneline Keet, Head of the UFS Social Work Department, believes that the exchange experience enhances the students’ critical thinking, and facilitates their ability to engage with different social welfare systems. While only two students are able to experience the full exchange annually, the rest of the students also benefit from the discussions taking place in class where students from the guest university (JU) join them for a semester.

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