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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

UFS waives application fees for studies in 2016

2015-10-22

The University of the Free State (UFS) has waived application fees for all prospective undergraduate and postgraduate students - nationally and internationally - who want to study at the institution in 2016.

"Universities charge application fees that vary in amount. With 25 universities in South Africa, this fee becomes a burden for students who want to apply to more than one university. The university leadership has also realised that tens of thousands of students who qualify for university entrance stumble at the first hurdle: finding the money to apply,” says Prof Jonathan Jansen, Vice-Chancellor and Rector.

According to Prof Jansen, the UFS would like to set an example and a challenge to all public universities to scrap the application fee, so that many more young people from poor communities can realise their dream of accessing higher education. At the same time, the universities will benefit from more top talent coming into higher learning. "The more students that enrol and graduate, the stronger the financial position of universities will be; it is a win-win policy, and the university leadership has done the maths on this," he says.

The application fees for 2016 were R235 for South African students and R500 for international students. Prospective students, who have already applied for admission in 2016, will not be refunded. However, students who have already registered successfully for 2016 may apply to have the application fee credited to their tuition fee account after they have registered next year.

To support this initiative, UFS Marketing will be conducting an on-site application campaign by visiting East London, Port Elizabeth, Kimberley, Qwaqwa, Kathu, Pretoria, Johannesburg, Newcastle, Durban, Pietermaritzburg, and Ladysmith from 28 August 2015. Further details of the venues in each town will be available on the Kovsie2b Facebook page.

All prospective students currently doing their final-year undergraduate studies at either the UFS or any other university will also pay no registration fee if they want to continue with an Honours degree in 2016. The registration fee for 2016 was R950.

The closing date for applications for admission is 31 December 2015.

Apply for undergraduate or postgraduate studies at the UFS for 2016.

For enquiries, please call +27(0)51 401 9111.

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