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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

Fundraising while having fun

2016-01-25

With the Receive And Give (RAG) Community Service processions and festival around the corner, the public can expect loads of festive fun for the whole family.

Over the years, RAG has grown in popularity among the Bloemfontein community as the official launch of the social calendar. At the beginning of each year, the streets come alive with thousands of students from the University of the Free State and their colourful floats. They are joined by spectators from all over the city.

Float building

The ‘Cartoons, Animation and children snacks’ theme for 2016, has kept first-year students and RAG representatives working tirelessly since 18 January 2016, building majestic floats that are sure to entice on-lookers.

Ritsim Magazine sales

The annual RAG publication, Ritsim, is now available for only R25 a copy. All proceeds are channelled into different charities across the country.

This year, in a joint venture between Kovsie RAG and Volksblad, approximately 8000 Ritsims will be sold as a package deal with all the newspapers in the Northern Cape and Free State.

The processions

About 10 000 meals will be distributed to needy residents of the Heidedal and Mangaung communities at the Twin City mall after the morning procession.

Floats will be judged prior to the morning procession. The float winners will be announced at 17:00 at the RAG Farm, and the winners will lead the afternoon procession.

Date: 30 January 2016
Times: 10:00 (morning procession) and 18:00 (afternoon procession)
Route for morning procession: Pelonomi Hospital to Twin City mall
Route for evening procession: Tempe traffic light at Nelson Mandela Drive to Old Grey Sports Grounds

The festival

After a day of chanting, collecting donations, and feeding the community, the RAG festival will round out the day with good music. Both young and old will be entertained by well-known and vibrant artists such as Vusi Mahlasela, Karen Zoid, and Francois van Coke.

Date: 30 January 2016
Time: Gates open at 16:00
Place: Old Grey Sports Grounds

Tickets are available from Computicket and at the gate for R100 per person and R50 per student or children under 12 years of age.

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