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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

We must rise again, says Dr Luescher

2016-05-04

Dr Thierry Luescher, Assistant Director of University of the Free State Directorate for Institutional Research and Academic Planning, was one of the guest speakers at the first TEDxUFS event of the year on the Bloemfontein Campus. Here he is explaining where the #movements started, and how to change the way we think. Photo: Marli du Plessis.

The student protests, known as the #MustFall movements, started on 9 March 2015, when students protested in a well-rehearsed manner at the Cecil John Rhodesstatue at the University of Cape Town. After this protest, students all over South Africa started their own movements from #OpenStellies to #SwartsMustFall, the latter happening on the Bloemfontein Campus of the University of the Free State (UFS) in March 2016. But, as Dr Thierry Luescher, Assistant Director of UFS Directorate for Institutional Research and Academic Planning, says: “We shall soon run out of #MustFalls. Maybe it is time that we rise again.”

The first TEDxUFS was held on Friday 15 April 2016 at the New Education Building on the Bloemfontein Campus of the UFS. Dr Luescher shone light on the way we look at hashtag movements. At the conference, he was one of the guest speakers who shared their perspectives on the theme of #ImpossibleIsNothing. The others were Ndumiso Hadebe, and Fezile Sonkwane.

Changing angles

No matter what the issue, whether it is on a campus or not, the same reaction can be expected by all: they burn things to get attention. In retrospect, this is our political culture. This is what we have been told to do if we need answers. There is a much faster and cheaper way to attract people’s attention: the hashtag movements, says Dr Luescher.

Stop the fire

He argues that we should stop burning down buildings and vandalising properties. What we need is people with intellect to use their words. We, as students, have to take back our voice. We need to stop this self-pitying, and take a stand.

Students have the power to change lives. We would be able to reach as many as 1.4 million people with our tweets or instagram accounts. According to Dr Luescher, the time for violence has come to an end.

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