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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

Juan Odendaal invited to training camp in Switzerland

2015-10-19

Juan Odendaal recently in action at the UCI Paralympic World Cup
for road races in Pietermaritzburg.
Photo: Bertus Odendaal

Juan Odendaal from the University of the Free State (UFS) was invited to be part of a training camp in Switzerland, together with some of the world’s leading para-cyclists.

This first-year BA student was recently selected by the cycling body, Union Cyclist International (UCI), to attend the camp which will be held in Aigle from 2-12 November 2015.

Afterwards, Odendaal, who has been the junior South African champion in the C3 division in road races, time trials, and pursuit races, will travel to Manchester, England, where he will compete in a para-cycling event from 13-15 November 2015.

Recently, he took part in the senior division of the UCI Paralympic World Cup for road races for the first time, and has performed well. In this event, which was held in Pietermaritzburg, he competed against participants from countries including Germany, Australia, Spain, and Russia.

Odendaal on 11 September 2015 took eighth place in the road race and tenth place in the time trial. The road race takes place over 55 km and the time trial over 24 km.

Odendaal said he realised immediately that he was competing at senior level.

“There was a marked difference in the quality of the races,” he said, about the World Cup in Pietermaritzburg.

“It was much faster than I had expected. The average speed was 37,2 kilometres per hour.”

Odendaal also made his debut for South Africa in March of this year at the UCI Para-cycling Track World Championships in Apeldoorn, The Netherlands. At this event, he finished in fifteenth place in both the time trials and the pursuit event.

Odendaal said his main goal is the World Championships, which will take place in Montichiari, Italiy, in March 2016. He is hoping to achieve good times there in order to qualify for the 2016 Olympics in Rio de Janeiro.

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