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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

New building on UFS Qwaqwa Campus makes provision for research on environmental problems

2015-12-11

The new Geography and Physics Building on the Qwaqwa Campus

Student numbers in Geography and Physics on the Qwaqwa Campus of the University of the Free State have escalated over the past five years. This has resulted in a need for more space for these two departments.

The acute and persistent shortage of lecturing space has been a major stumbling block on the campus, with only four of the Natural Sciences departments - Chemistry, Physics, Plant Sciences, and Zoology and Entomology – able to fit into the Natural Sciences building. To solve the problem, a separate facility for both the Geography and the Physics departments was built.

The new complex, which includes lecture rooms, laboratories, and offices, places the Department of Physics on the ground floor because the weight of some of the laboratory equipment. The Department of Geography is on the first floor.

The Department of Geography places strong emphasis on montane research. Research is being conducted on environmental problems in the Maluti-a-Phofung area. This research encompass in situ and ex situ conservation of paleontological resources, with the aim of setting up a GIS-based environmental management system, as well as the role of local cultures in promoting regional tourism.

The Department of Physics places emphasis on changing and improving community perceptions of electricity and electronics. The major part of the research has been in the field of solid-state physics, and, more specifically, on nanophosphors and other luminescent nanoparticles.

The building is in the north-eastern corner of the campus, opposite the Faculty of Natural and Agricultural Sciences.

The project was completed in 2015.

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