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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

UFS trains Kovsies to become great in world terms – Prof Jonathan Jansen

2016-01-19

First-year students from the University of the Free State (UFS) recently attended the welcoming ceremony at the Red Square of the Bloemfontein Campus.
Photo: Johan Roux

The University of the Free State (UFS) does not train Kovsies to become great in Bloemfontein or even South Africa. The UFS trains them to become great in the world.

With these words, Prof Jonathan Jansen welcomed the first-year class of 2016 to the “home of Wayde van Niekerk, Rolene Strauss, and the 2015 Varsity Cup rugby champions”.

Prof Jansen, Vice-Chancellor and Rector of the UFS, welcomed the newcomers to the start of the “best time of their lives” on 15 January 2016 at the Red Square of the Bloemfontein Campus. First-years and their parents attended the annual welcoming ceremony.

Prof Jansen congratulated the students on choosing the UFS, and on being part of the elite group that was selected to study at the university.

The UFS received 25 142 applications from newcomers, he said, although there are only about 8 000 places. In 2015, there were roughly 17 500 applications.

He said it was also the most diverse group of applications the UFS had ever received.

Access to education

According to Prof Jansen, the UFS is committed to helping poor students gain access to education, no matter what their background or the colour of their skin.

Lindokuhle Ntuli, the UFS Student Representative Council (SRC) President, said higher education should be more accessible. He said South Africa has allowed education to become commercialised.

“The sooner we as a country realise education isn’t an expense, but rather an investment, the better,” he said.

UFS campaigns

Prof Jansen thanked the UFS SRC for the Right to Learn (R2L) campaign. Launched by the SRC on 30 October 2015, this campaign has already raised R1.2 million to help academically-deserving underprivileged students to study.

“I have launched a campaign myself to raise R100 million between now and September. About 50% of my time will go into this,” Prof Jansen said.

“I will work tirelessly with Lindokuhle and the SRC to raise money.”

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