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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

Neonatal Care Unit receives donation to expand capacity

2015-10-28

With the best care and technology available,
the survival rate of premature
babies is about 85%. The neonatal intensive
care unit at the Universitas hospital can now
expand its capacity thanks to a donation of
R1 million by the Discovery fund.
From the left is Prof André Venter.
Head: Department of Paediatrics and
Child Health at the UFS, and mrs Ruth Lewin,
Head: Corporate Sustainability at Discovery.

The smallest people need the greatest care. This care is being provided by the neonatal unit in the Children’s Wing of the Universitas Hospital. This project of the University of the Free State (UFS), under the leadership of Prof Andre Venter, has led to several miracles regarding child health since its inception.

Now, thanks to a donation of R1 million rand from the Discovery fund, this unit can expand its capacity and treat more premature babies.

About 14% of babies in South Africa are born before the 37th week of pregnancy. These babies are born with a very low birth weight, and are in need of critical care. The neonatal intensive-care unit at Universitas Hospital is currently equipped to take care of about 14 premature babies at a time, from birth to discharge. However, because of the high incidence of premature births in the hospital’s service area, the unit needs about 45 beds.

The aim of the Children’s Wing Project is to expand the neonatal intensive-care unit in order to meet the demands of the hospital’s service area, which reaches as far as the Southern Cape. The Discovery Fund recently donated R1 million to the project, which will be used to expand the capacity of the neonatal intensive-care unit.

“With the best care and technology available, the survival rate of premature babies is about 85%. Without this, half of all premature babies would die,” says Prof Venter, Head: Department of Paediatrics and Child Health at the UFS.

“This is the reason why private and public partnerships, such as the one with Discovery, are essential to make specialised services available to the most vulnerable people. Discovery has made a significant contribution to the project without which we would not have been able to expand the capacity of the unit

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