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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

‘Africa’s Many Liberations’ seminar series launched

2016-05-11

The Africa’s Many Liberations seminar series, presented on the Bloemfontein Campus of the University of the Free State (UFS), is a direct response to some of the demands made by the #MustFall campaigns during the past year. A constant refrain among activists has been that the curriculum must be ‘decolonised’, and that it should have stronger foundations in African experiences. This seminar series aims to deepen understanding of histories and anti-colonial struggles, including those waged worldwide today.

It was conceived to deepen students’ knowledge of African and South African history, and to help them to engage with ideas from the diaspora and anti-colonial struggles elsewhere. It was planned as a popular seminar for students across faculties. For this reason, the series strives to avoid language or literature that might exclude students from disciplines outside of historical, sociological, political, and cultural studies.

The series is convened by the International Studies Group (ISG), in association with the Institute for Reconciliation and Social Justice (IRSJ). The coordinator is Prof Neil Roos (associate professor of history in the International Studies Group, and co-director of the Vice-Chancellor’s Prestige Scholars Programme).

Prof Roos presented the first seminar, entitled Du Bois and the ‘Problem of the Colour Line’ on Thursday 28 April 2016. The next theme under discussion will be Fanon and the Relevance of Personal and Collective Decolonisation in Today’s South Africa, which will be presented by Dr Tinashe Nyamunda.

The remainder of the eight-part series will be presented by Dr Rachel Hatcher (postdoc in the IRSJ), Dr Sahar Sattarzadeh (postdoc in the IRSJ ), Dr Ivo Mhike (postdoc in ISG), Busi Ntsele (lecturer in sociology), Leigh-Ann Naidoo (doctoral student and activist, University of the Witwatersrand, South Africa), and Prof Richard Pithouse (associate professor in politics, Rhodes University, South Africa).

Date: Thursday 12 May 2016
Time: 16:30
Venue: Albert Wessels Auditorium, Bloemfontein Campus
Entrance is free
RSVP: sattarzadehsd@ufs.ac.za

Seminar series programme

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