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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

UFS community makes difference through Big Give Project

2016-06-10

Food for the needy. From left is Annelize Visagie, Health and Wellness;
Vicky Simpson, No Student Hungry Food Bursary Programme;
Elizabeth Msadu, Health and Wellness; and Lorinda Slippers, Student
Representative Council Rag Community Service, at the handover of
the food and cash collected by the RAG Big Give Project.
Photo: Jóhann Thormählen

Thanks to the caring community of the University of the Free State (UFS), students in need were provided for during exams, and will receive more food in the cold winter months.

Once again, staff and students made valuable contributions at the successful RAG Big Give Project, where food contributions of R 38 176.20 and cash donations of R25 000 were received. Staff, residences, and the RAG Committee made these donations as part of the project on 5 May 2016, when contributions were made at the Bloemfontein Campus gates of the UFS. An extra donation by Imperium, a residence on the Bloemfontein Campus, of R20 000 for FutureLife helped to achieve the grand total of food contributions.

According to Vicky Simpson, Assistant Officer at the No Student Hungry Food Bursary Programme (NSH), the food donation is for a designated group of students who have already been identified as food insecure by the social work office. “It will be distributed to them on a monthly basis,” she said.

The handover of food collected was done on 25 May 2016 at the RAG Food store by the RAG Office to Health and Wellness and the NSH. The RAG Office thanked the UFS community for its contributions to the project. Parexel, who made cash and food donations, received special mention. Simpson said “the food will make a huge difference in the lives of students who do not know where their next meal will come from”.

According to Jaco Faul, Senior Assistant Officer Rag CS, his office is already looking forward to the next instalment of the Big Give Project. “We challenge faculties and staff members for the forthcoming Rag Big Give project in October to see if we can beat the amount collected this time.”

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