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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

Kovsie Tennis team defends proud USSA record in Cape Town

2015-12-01

In 2014, Kovsies won gold at the USSA Tennis Tournament for the eighth consecutive time. Six players from last year's 12-man squad are in 2015 in Cape Town again available. Photo: Johan Roux

Duke Munro already has six gold medals from the USSA Tennis Tournament in his cupboard, and the Kovsie Tennis team would wish to bid him farewell in a fitting manner during what will probably be his last tournament in Cape Town.

This year's tournament, taking place from 30 November to 4 December 2015, will probably be Munro's last, since he is completing his Master's degree in Quantity Surveying at the University of the Free State (UFS).

He has competed in the USSA Tournament since 2009, and would like to help his team defend its proud record.

UFS aim for ninth consecutive title

Kovsies have won gold at the USSA Tournament for the last eight years. They are the only team who have been able to win the tournament since the combined format was adopted in 2010. In 2007 and 2008, their Women's team won the tournament, and in 2009, their Men's team.

Kovsies will play in group matches against the Universities of Venda and Wits on 30 November 2015, against the University of Cape Town's (UCT's) second team on 1 December 2015, and against UCT's first team on 2 December 2015. The cross and knockout matches will be played on 3 and 4 December 2015.

Other sporting codes

The Sevens Rugby team from the UFS will compete in the USSA Tournament in George on 30 November and 1 December 2015.

For the past two years, the team has won bronze, and will be playing three league matches on 30 November 2015 against the North-West University's Vaal Campus, Nelson Mandela Metropolitan University's Port Elizabeth Campus, and the Vaal University of Technology.

Kovsies are the current Varsity Sevens Champions after winning the title in Cape Town in April 2015.

Ten Kovsie swimmers took part in the USSA Tournament in Johannesburg from 28 November to 30 November 2015. Last year, Kovsies came third, but unfortunately some of their leading swimmers were unable to take part this year.

The Kovsie Table tennis team will participate in the USSA Tournament in Kimberley from 30 November to 4 December 2015.

Most of the USSA Tournaments in the other sporting codes were either postponed or cancelled because of the recent nationwide student protests. As a result of the protests, exams were written later, and tournaments would have taken place during the holidays.

Only the tennis, table tennis, Sevens rugby, swimming, and cricket B Division in East London will continue.

The USSA Soccer Tournament, to take place at the UFS and the Central University of Technology in Bloemfontein, was postponed until March 2016.

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