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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 Centenary 2004/05 : October snippets

2004-10-06

CENTENARY CONFERENCE
The proposed Centenary Conference on Democracy, Diversity and Development : Towards a mature and robust society – A critical discourse, refers. Unfortunately many invited contributors are unable to attend on the proposed dates (12 to 15 October 2004) prompting the UFS management to reconsider the timing of the conference. The UFS management has therefore decided to postpone this conference until an appropriate time in 2005.

As a result of this postponement the SAUVCA activities will also no longer be part of the October programme in Bloemfontein.

CENTENARY COMPLEX
The rehabilitation of the existing Reitz Hall and adjoining residence into the Centenary Complex is almost complete.

The inauguration of the complex – Reitz Hall and DF Malherbe House – will take place on Tuesday, the 12th of October 2004. A special open day from 11:00 until 16:00 is planned to enable all staff and students to visit this prestige complex. More detail will be available early October 2004.

FILM PREMIERE
The premiere of an UFS commissioned documentary, as part of its Centenary celebrations, on the remarkable leadership, reconciliatory and nation-building role of King Moshoeshoe, the Basotho leader of the nineteenth century, will take place on Wednesday, the 13th of October 2004. The director of this commissioned documentary is the well-known Max du Preez. Although this event is open to invited guests only, the documentary will also be screened by the SABC later this year. It will also be screened at several other occasions to enable staff and students to experience and discuss this film.

With this film and other projects the University of the Free State wishes to celebrate the legacy of this extraordinary African leader for the Free State and for South Africa.

CENTENARY HONORARY DOCTORATE GRADUATION CEREMONY
A special Honorary Doctorate Graduation Ceremony will take place on the 14th of October 2004 at 19:00 in front of the Main Building on the UFS campus. Twelve honorary doctorate degrees will be awarded to a diverse group of outstanding South Africans and international scholars. The Rector requests the attendance of all staff and students in large numbers during this prestige event.

The following candidates will receive an honorary doctorate degree: Me Antjie Krog, Prof Jakes Gerwel, Mr Karel Schoeman, Dr Frederick van Zyl Slabbert, Prof Saleem Badat, Dr Khotso Mokhele, Prof Robert Bringle, Prof Leo Quayle, Prof Jack de Wet, Prof Kerneels Nel (posthumous), Prof Boelie Wessels en Prof Jaap Steyn .

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