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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 community proud of Wayde’s hat trick of awards

2015-11-24

The Kovsie athlete Wayde van Niekerk received a hat trick of awards at the SA Sports Awards on Sunday 22 November 2015. He was named Sports Star of the Year, Sportsman of the Year, and was crowned as winner in the People’s Choice category.
Photo: Charl Devenish

Wayde changed the game – Naidoo

For a long time, AB de Villiers and Chad le Clos have dominated fan support in South Africa, but Wayde van Niekerk changed the game.

This was what Kass Naidoo, well-known sports journalist and cricket commentator, tweeted after the Kovsie athlete, Wayde van Niekerk, made a clean sweep at the tenth SA Sports Awards in his home town, Bloemfontein, on Sunday 22 November 2015.

According to Naidoo, the golden boy from the University of the Free State (UFS) is now the hottest property in South Africa, and should be watched during the 2016 Olympic Games in Rio de Janeiro.

Hat trick for Kovsie athlete
Naidoo was one of several celebrities to congratulate Van Niekerk on Twitter after Wayde received a hat trick of awards in the Sand du Plessis Theatre. The 400 m athlete was named Sports Star of the Year, Sportsman of the Year, and was crowned as winner in the People’s Choice category.

Apart from this, a humble Van Niekerk received total prize money of R1,1 million and two luxury Mercedes Benz vehicles - one for Sports Star of the Year and one as People’s Choice winner.

Big names outperformed
What makes his awards even more remarkable is the fact that he has outperformed several big names.
In addition to De Villiers and Le Clos, the tennis player, Kevin Anderson, the swimmer, Cameron van der Burgh, and the athlete, Caroline Wöstmann, were all nominated for Sports Star of the Year.

For the People’s Choice Award, Van Niekerk beat De Villiers, the cyclist, Ashleigh Moolman-Pasio, (who was crowned Sportswoman of the Year), Le Clos, and the wheelchair tennis player, Lucas Sithole. The public voted for this award.

Le Clos was nominated with the mountain biker, Greg Minnaar, for Sportsman of the Year.

Best is yet to come
“I don't think we have seen the best of Wayde. Hopefully that will come in Rio next year, along with a gold medal,” Naidoo tweeted.

The Springbok winger, JP Pietersen, also congratulated Van Niekerk on the social network, saying that he deserved his award as Sportsman of the Year.

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