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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

Rag teamwork leads to Armentum, Emily's float

2016-02-04

Rag video clip

Perhaps the residences Armentum and Emily Hobhouse were thrown into the deep end, but they still wanted to prove a point.

This is according to Hanko Minnaar, Residence Committee member for Rag at Armentum, shortly after the residences were announced as overall float winners of the University of the Free State (UFS).

According to Minnaar, Emily Hobhouse and Armentum overcame the challenge of building a float as a two-residence team, while most of the other hostels were in teams of three.

On 30 January 2016, after about two weeks of hard work and sweat, the residence twosome was named the winner at the Bloemfontein Campus.

“I am very proud. We couldn't have asked for more,” Minnaar said, after the residences Armentum and Emily Hobhouse celebrated their victory with house songs. “Anything is possible through teamwork.”

Tom and Jerry, Olaf and a Steri Stumpie

The theme for this year was “Cartoons, Animation, and Children's Snacks”. Among other items, Armentum and Emily Hobhouse had Tom and Jerry, Olaf from Frozen, a Steri Stumpie, and a box of Astros on their float.

Photo: Charl Devenish

“We thought hard about what we wanted,” Minnaar said.

“We also asked some children, and they said that Tom and Jerry is a favourite, and Olaf has always been a winner as well. And Steri Stumpies, of course. Who doesn't like Steri Stumpies?” The residences Marjolein, Veritas, and Akasia were second overall, with Karee, Vergeet-My-Nie, and Sonnedou third.

Colourful processions

The events of the day started off with a morning procession from the Pelonomi Hospital to the Twin City Mall in Heidedal, where students and the community celebrated together, and meals were distributed.

The evening procession, from the Tempe robot in Nelson Mandela Drive to the Old Grey Sports Grounds, was greeted by hordes of spectators along the way.

Artists and Co captivate audience

In the evening, music lovers were entertained at Old Grey Sports Grounds by the legendary artists Vusi Mahlasela, the talented Karen Zoid, and an energetic Francois van Coke.

Local bands, Rise in Red and Simple Stories, added to the excitement. To top it all off, a special laser show made for a colourful visual bonus, coupled with great sound.

2016 Float results
Rag photo gallery

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