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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

Statement in the media on 14 January 2016 by national student structures about national student protests

2016-01-15

The University of the Free State takes cognisance of the decision by national student structures on 14 January 2016 that protests should stop and students return to studies. Here are selections from a transcription of the press conference, followed by a link to the full and complete transcript:

“The PYA calls for Back to School... The Progressive Youth Alliance, Sasco, YCL, ANC Youth League, call upon students from all walks of life to use the systems provided by government and not delay their future any longer unnecessarily. There is no reason at all for strikes to continue when people's government has addressed the main immediate concerns of students...

“Members of PYA, Sasco, ANC Youth League, and the Young Communist League, and all progressive forces, should defend the interests and gains of students who marched genuinely for FeesMustFall last year. They must make sure that students are on the concession provided by government and go back to class and wait for the report from the commission [on free higher education recently established by President Zuma]...

“Students should be decisive and reject dark forces that seek to delay them further, and students should play their part by ensuring that they focus on their academic studies, and take the opportunity provided through this additional loans and bursaries to successfully complete their studies...

“Students can no longer delay their studies. They must be allowed to write their examinations - those who did not write last year - and those who need to register, must register and go back to class. We will regroup ten months into the year when the report of free higher education has been released, to consider its content...

“Fees have indeed fallen, access must rise, and all students must go back to school.”

Link to complete transcript: http://ow.ly/X5ViR

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