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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 our Council: Loraine Roux – a proud Kovsie ambassador

2016-07-01

“I strive to represent the alumni
actively as an interest group,
and to help build the university
through sound business principles.”

Loraine Roux (née Kriek), former President of the Student Representative Council, was elected to the Council of the University of the Free State (UFS) in 2012. This former Kovsie made her mark at the UFS. Many staff members and former students will remember her as the beautiful brainbox, who achieved success in so many different areas of student life and humanity.

Loraine’s studies

Her journey as a Kovsie started as finalist in the prestigious Matriculant of the Year competition. Later, she obtained a Bachelor’s degree in Consumer Science at the UFS. Loraine, a born leader, was also Prime of Soetdoring residence, and remains the only student in the history of the university to be chosen as SRC President, Rag Queen, and Dux student in the same year.

After university

The Kriek family are all stalwart former Kovsies, with three generations – Loraine, her late grandfather Johan Kriek, and godparents, Rhyno and Mariette Kriek – having served on the Student Representative Council. So, it is no surprise that a leading firm like Deloitte & Touche noticed Loraine’s unique talent and leadership skills, and snatched her up for their CEO Bootcamp immediately after university.

Serving on the UFS Council

Currently, she is part of the team that is extending Deloitte & Touche’s ethical and fraud prevention services across Africa and Europe. She also uses her expertise and experience in risk management, ethical practice, and good corporate governance for her role as UFS councillor. As part of her duties as Alumni representative in the Council, she serves on the Naming Committee, as well as on the Audit and Risk Committee.

“It is a great privilege for me to serve on the Council, but it is also a great responsibility,” she says. “I strive to represent the alumni actively as an interest group, and to help build the university through sound business principles.”

Loraine married Gabriel Roux in 2014, and the couple live in Stellenbosch.

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