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12 December 2022 | Story Kekeletso Takang | Photo Supplied
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

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PSP produces first Y1-rating in UFS Faculty of Economic and Management Sciences
2015-12-14

Dr Andrew Cohen, a research fellow at the University of the Free State, recently received a distinguished National Research Foundation Y1-rating.
Photo: Sonia Small

The latest success story of the Vice-Chancellor’s Prestige Scholars Programme (PSP) is that the first National Research Foundation (NRF) Y1-rating was awarded recently to a scholar while teaching in the Faculty of Economic and Management Sciences at the University of the Free State (UFS).

Dr Andrew Cohen received this distinguished rating on 10 November 2015. It is awarded to a “young” (younger than 40) scholar five years or less post-PhD, whose curriculum vitae predicts, according to a panel of international and local reviewers, that he is poised to become a leader in his field. Dr Cohen is a research fellow at the UFS.

This rating is a reflection of Dr Cohen’s record over the past eight years, and the scholarly environment he was part of at the UFS under leadership of Prof Ian Phimister. Cohen is currently a research fellow in Prof Phimister’s International Studies Group.  He taught economic history in the Department of Economics until September 2015, when he joined the School of History at the University of Kent.

Dr Cohen’s professional trajectory is emblematic of the visionary approach of the UFS Prestige Scholars Programme (PSP): to support prestige scholars with advanced mentorship, and the creation of a college of peers in order to nurture intellectual breadth and depth to generate knowledge over disciplines.

The PSP was initiated by Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS in 2011.

“Jonathan Jansen’s prestige scholars have become sought after in the academic community at large, as this recent appointment at the University of Kent indicates,” says Professor Neil Roos, co-director of the PSP. “Yet the alumni’s commitment to the programme, the university and their peers continues.”

Cohen is the editor (with Casper Andersen) of the five volume, The Government and Administration of Africa, 1880-1939. Dr Cohen’s next project is forthcoming from I.B. Tauris, The Politics and Economics of Decolonisation: The Failed Experiment of the Central African Federation.

 

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