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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

Meet the person behind the new #FaceOfFacebook

2016-05-19

Reuben “R” Davids

The votes have been counted, and we have a winner! After much excitement and a fairly close contest, Reuben “R” Davids emerged victorious from the top five contestants selected by our panel of judges. We chatted with the vibrant and enthusiastic Mr Davids to get a sense of the person who will be our Facebook ambassador for the next year.

What does the “R” stand for?

“Interestingly, some also know me as Vuyo. It's not a name on my birth certificate or anything; I just really like it. And I also coincidentally found out that it means “joy/happiness”, and I do enjoy being happy.”

What is your field of study, and how far along are you?

“I am pursuing a career in the economics field as a third-year BCom Accounting student in the Faculty of Economic and Management Sciences here at the University of the Free State.”

Are you originally from Bloemfontein?

“Yes, born and bred. I've been a Bloem Kid since day one.”

How is it that you ended up here, studying at the UFS?

“The UFS has always been one of my favourite universities. During my high school period, I was constantly exposed to people from my neighbourhood as well as schoolmates who performing excellently here at UFS, and it didn't go unnoticed. So I have always been drawn to the prestige that UFS carries.”

Which residence are you in, and what do you enjoy most about res life?

“I currently stay at home with the family, but for my first 2 years of study I resided at ConLaurês. What I enjoyed the most about res life is the freedom and independence that you get. It also enables one to participate in campus life much easier. It actually helps one grow and mature into the adult you're supposed to become with all the challenges and responsibilities that you're faced with.”

What do you hope to accomplish during your term as the #FaceOfFacebook?

“I enjoy the art of presenting (as well as being an MC), and being the #FaceOfFacebook will enable me to exercise that skill. Also, my interaction skills will be exercised. That being said, I would like to have those skills developed further by the end of my term as #FaceOfFacebook.”

What is your motivation in your studies, in taking part in this contest, and in life?

“I am an adrenaline junkie. I like taking on challenge; so what I normally do is I set a certain goal for myself and then take on the challenge to achieve that goal. That's my number one motivating factor. And I think I'm also inspired by the failures and successes of myself and of those around me.”

Reuben has already been featured in a #PeopleOfKovsies post on Facebook, and appeared in his first Facebook video covering the Open Day on our Bloemfontein Campus.

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