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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

First UFS/AS Young African Scholar Award winner announced

2016-03-10

Fana Gebresenbet Erda, winner of the first University of the Free State /Africa Spectrum Young African Scholar Award, for his research on political economy.
Photo: Supplied

Scholarship in African Studies still faces the challenge of capacity-building to increase ownership by authors and institutions from and on the African continent. It also requires more coordinated efforts to provide the space deserved by African authors in the international domain. In 2015, the University of the Free State (UFS) Centre for Africa Studies joined forces with Africa Spectrum (AS) in a bid to address this issue by establishing the UFS/AS Young African Scholar Award.

This award seeks to strengthen efforts to promote internationally recognised African scholarship in African Studies. One way to achieve this objective is through publishing articles by researchers based in Africa and in the diaspora in Africa Spectrum, an accredited journal compiled by the German Institute of Global and Area Studies in Hamburg.

The inaugural award winner
Fana Gebresenbet Erda, a PhD candidate in a Global and European Studies programme jointly offered by the University of Leipzig (Germany) and Addis Ababa University, wrote the winning article for 2015. He will receive a three-year affiliation to the UFS Centre for Africa Studies as a Research Fellow, along with prize money of R5 000, sponsored by the UFS.

His article, The Ethiopian Developmental State in Its Peripheral Lowlands: Large-Scale Land Acquisitions, the Politics of Dispossession and State Remaking in Gambella, Western Ethiopia, argues that development through large-scale land acquisitions in Gambella, Western Ethiopia, belies a state-remaking project under a dispossessive political economy.

Submission now open
Africa Spectrum invites scholars to submit research articles in the context of the award. In October of each year a review committee selects submissions for review. Those eligible to submit are postgraduate students nearing completion of their PhD theses and postdoctoral scholars who were awarded their PhDs no more than five years earlier at the time of the submission deadline. Those submitting should be from Africa or should be affiliated to African institutions.

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