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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

Louzanne Coetzee breaks 16-year-old world record

2016-03-24

Louzanne Coetzee (left) running the 5 000 m at the Nedbank National Championships at the Free State Athletics stadium with her guide, Khotatso Mokone (right)
Photo: Celeste Klopper Photography

Whether it’s the 5 000 m or the 1 500 m, Louzanne Coetzee is breaking records in all her races. Fans of the University of the Free State (UFS) student were elated at her triumph with the 5 000 m T11 world record at the Nedbank National Championships for the Physically Disabled on Wednesday 23 March 2016.

The record, which has stood for 16 years, was shattered by Coetzee’s stellar 19:17.06 performance. Sigita Markeviciene’s long-standing mark of 20:05.81, set at the 2000 Paralympics in Sydney, was bettered by 48.75 seconds when Coetzee and her guide, Khotatso Mokone, sprinted hand in hand past the finish line.

Coetzee’s coach is as elated as the world-class athlete’s fans over her officially becoming the first totally blind female to clock sub-20 minute in the 5 000 m. "I am proud and grateful. She earned it through and through. She worked hard for this,” said Rufus Botha.

The experience was a surreal one for Coetzee. “It was unreal but it is exciting to be the fastest in Africa and the world. I could not have done it without the support system that I have,” she said.

"I have seldom met a student with the character and humanity of Louzanne Coetzee; she represents the best of campus and country, and is a stunning example of what we canal achieve despite the great challenges of the present," said Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS.

New African record holder

Two days before breaking the 5 000 m world record, Coetzee set a new African record in the 1 500 m. She lowered the mark from 5:27:21 to 5:18:44, which placed her at the number nine spot in the world.

On Friday 18 March 2016 Coetzee had broken her own South African record when she ran 5 000 m in less than 20 minutes at the Free State Championships. However, the race is not an official (International Paralympic Committee) meeting, and hence remains unofficial.

What’s next?

The gold medallist is currently preparing for the Athletics Grand Prix to be held in Switzerland in May for which she is raising funds. If she is selected by SASCOC (South African Sports Confederation and Olympic Committee), her next stop is the Paralympic Games in Rio de Janeiro, which is just six months away.

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