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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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Diligence to be rewarded at the 2015 Spring Graduation

2015-09-15

The hard work of many students finally comes to fruition with this year’s spring graduation ceremonies taking place on Thursday 17 September 2015 on the Bloemfontein Campus.

A total of 124 diplomas, 419 bachelors and 56 honours degrees will be conferred on graduates from all seven faculties of the University of the Free State (UFS). In addition to the 599 conferrals, Professor Jeffrey Sachs, the world-renown American economist, will round out the number to 600 as the recipient of an honorary doctorate.

The Faculty of Economic and Management Sciences wishes to express appreciation for his extensive contribution towards economic, social, and political development across borders with an honorary doctorate in Economics.

Prof Sachs has had a positive impact on global peace and security, climate change, sustainable development, human rights promotion, and governance through various platforms, including being a Special Advisor to United Nations (UN) Secretary-General, Ban Ki-moon, on the Millennium Development Goals (MDG). He also served as the Secretary-General’s MDG Advocate and Commissioner of the International Telecommunication Union (ITU)/United Nations Educational, Scientific and Cultural Organization (UNESCO) Broadband Commission for Development.

In addition, Prof Sachs serves as the Director of the Earth Institute at Columbia University and Director of the UN Sustainable Development Solutions Network. As an author, he has featured three times on the New York Times bestsellers list, and is the co-founder of the Millennium Promise Alliance, and drives the Millennium Villages Project as its Director.

Graduates should expect words of salutation and encouragement from our main speaker, the Vice-Chancellor and Rector of the university, Prof Jonathan Jansen.

Two ceremonies will take place in the Callie Human Centre at 09:00 and 14:00 respectively. Attendees of the afternoon ceremony will witness the conferment of Prof Sach’s degree. There is a live stream option available on the university’s website to individuals who are unable to attend the ceremonies.

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