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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

What if we put it to you that Barry Roux is to visit Kovsies?

2015-08-20

Advocate Barry Roux in action at Oscar Pistorius' trial.
Photo: Supplied

The SRC Legal and Constitutional Affairs office, in conjunction with the Law Faculty, are launching the Student Court this week.

Barry Roux, the renowned South African legal representative who served as the defence advocate in the trial of Oscar Pistorius, will be the keynote speaker.

Guest speakers include Judge Lebotsang Bosieloof the South African Supreme Court of Appeal. Prof Caroline Nicholson and Prof Teuns Verschoor are to represent our Law Faculty as Dean and Lecturer, respectively.

In 2014, when Lindokuhle Ntuli occupied the Legal and Constitutional Affairs office within the Student Representative Council (SRC), the concept of this Judicial Branch of Student Governance was conceived.

“I established the Student Court because I strongly believed that we needed a student forum, beyond the University’s Disciplinary Committee,” said Lindokuhle. He added that such a forum allows for dealing with disputes between students and testing the validity of the Student Court’s constitution and the regulations of the university.

The Student Court’s aim is to administer justice according to these documents. It intervenes in decision-making matters between students, associations, or any part of the student body, at a student level. Other functions of this legal body involve regulating irresponsibly behaviour among students in order to uphold the integrity of the University of the Free State.

You are invited to the launch event:

Friday 21 August 2015

17:00

Economic and Management Sciences Auditorium (EBW), Bloemfontein Campus

For more information contact Lindokuhle Ntuli on 051 401 2082 or ntuliL@ufs.ac.za

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