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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

Update on the Review of the Language Policy of the UFS

2015-11-26

On 5 June 2015, the Council of the University of the Free State (UFS) mandated Management to conduct a review of the Language Policy. The University Management Committee (UMC) then established a Language Committee to undertake a comprehensive review of the existing parallel-medium policy and to make recommendations on the way forward with respect to the university's Language Policy.

The Language Committee has now completed its work and the review report and its recommendations were presented to the UMC, the Executive Committee of Senate (ECS), as well as the full Senate. Each of these bodies debated the report and its recommendations and the views of these various structures will be presented to Council on 4 December 2015.

Council will study the report of the Language Committee and deliberate on the recommendations and views of these different university bodies ahead of, and at its December 2015 meeting. At that meeting, Council will then decide whether or not to accept the findings and recommendations of the Language Committee.

Should Council decide that - having reviewed the committee report - a new Language Policy must be developed, it would then mandate that such a policy should be designed and presented to itself as the highest decision-making authority of a university. In that case, the new Language Policy would have to be presented again to the UMC and Senate for voting purposes and that vote would be formally presented to Council at one of its meetings in 2016. The Institutional Forum, a statutory body that represents all university stakeholders, would also at that point advise Council, per its mandate, on a new Language Policy.

In the event that a new Language Policy is accepted by Council in 2016, the earliest possible date for implementation would be January 2017.

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