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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

Right to Learn campaign seeks to fund financially needy students

2015-11-11

SRC President, Lindokuhle Ntuli, pledges financial support to the Right to Learn campaign.
Photo: Tango Twasa

In response to the dire need for financial relief for academically deserving students from underprivileged backgrounds, the Student Representative Council (SRC) of the University of the Free State (UFS) launched the Right to Learn campaign on Friday 30 October 2015. The campaign, which aims to counter deregistration, was initiated following the national #FeesMustFall campaign, which gained momentum after students from the University of Witwatersrand first mobilised against the proposed fee increases for 2016.

The SRC’s Projects Committee realised that, although President Jacob Zuma had consented to a 0% increment, the lack of an increase would not eliminate the financial burden currently facing some students.

“The campaign was conceived at the SRC’s strategic planning meeting, and is now spearheaded by the SRCs Projects Committee,” said Letsika Leqoalane, SRC: Academic Affairs. “The campaign was founded on the university's value of ‘Superior Scholarship’ and the SRC’s value of reducing student financial exclusions,” he added.

Students in pursuit of continued access to education

The Right to Learn campaign was established as a supplementary initiative to the #FeesMustFall movement. “The Right to Learn campaign is an initiative to raise funds for students who are facing financial exclusion in the coming year,” said the SRC Academics Affairs officer.

All proceeds will be channeled towards reducing the number of students who will face de-registration in 2016, the SRC textbook bursary, and food bursaries. “This campaign stands on three pillars, namely: no to de-registration, no to student food insecurity, and yes to textbooks,” explained Leqoalane.

A call for support

According to SRC President, Lindokuhle Ntuli, “SRC members have made pledges of no less than R500 each from their own pockets.” The SRC is appealing to the UFS community to make donations into the campaign bank account, and thereafter to email the proof of payment to Ntuli at NtuliL@ufs.ac.za. The account details are:

Account number: 15-7085-0721 ABSA Bank Branch
Reference: SRC FUND
Branch Code: 632005 Cheque Account
Swift code: ABSAZAJJ

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