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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

Fun in the sun at first-years swimming gala

2016-02-12

Residences of the University of the Free State showed off their colours and cheered their swimmers to victory at the first-year swimming gala on the Bloemfontein Campus.
Photo: Johan Roux

The first-year students’ swimming gala is always a much-anticipated event, especially after the participants have rubbed shoulders with residence competitors at the first-year athletics. This year’s gala, which took place on 5 February 2016 at the Lindsay Saker swimming pool on the Bloemfontein Campus, proved as exhilarating as always.

The body painting competition, held through the University of the Free State Student Representative Council (SRC) portfolio of Media & Marketing, and sponsored by ABSA, was re-introduced.

Colleges in colour

Before the swimming, spectators had the opportunity to look at the body painting creations presented by each college. Colleges chose one of ten themes randomly. Nonetheless, true artistry was on display. South College were awarded the body painting floating trophy.

When asked about this year's competition, SRC Media & Marketing, Peo Segano, had this to say: "I questioned the relevance of it, but I got the opinion of the residence committees and how they felt about it.
“The majority voted for it to be re-introduced, and ABSA was more than happy to sponsor the paints and some treats.”

Video clip

Soon after that, it was down to the business. The swimming started, and each residence was cheering ecstatically for their fellow freshmen as everyone waited in anticipation to see who would be crowned the kings or queens of the water.

Kings and queens of the water

Although many had sung their voices away, they continued to show their spirit through dance and movement. Then, residences were ready to hear whether it had all paid off. Armentum showed consistent effort in this regard, thus ensuring them of the spirit trophy.

To close off the festivities, the final announcements were made. Sonnedou was crowned the female residence winners, while Abraham Fischer (Vishuis) received the title of best male residence.

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