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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

Incidents on the Bloemfontein Campus

2016-08-25

Statement by the Institutional Forum of the University of the Free State (UFS) - Released by Dr Willy Nel (Chairperson) on behalf of the Institutional Forum of the UFS

Two incidents happened on campus the past week, which were brought to the attention of the university management:

1. The university management received a complaint on 16 August 2016 that a student had sprayed liquid in the face of a security guard at one of the university gates. The reason appears to be that three students were sent back to their residence to collect their student cards in order to exit the campus – as required – and this might have caused the reaction. In video footage, it is clear that a student on the passenger side was responsible for the spraying incident. Statements have been taken from the three students in the car as well as from the affected security guard. The student claims that the liquid was water from his gym bottle. Regardless, charge sheets were prepared and delivered, and the disciplinary hearing has been scheduled on an urgent basis for 1 September 2016.

2. An incident happened on the Bloemfontein Campus on 23 August 2016, with a test being distributed in a class where the answer to one of the questions was included in the Afrikaans version, while it was excluded in the English version. The matter was investigated and it was decided that the written test will be set aside and a new test, covering the same scope, will be compiled for all students; the new test will be subject to external moderation; and external moderation of tests in the particular department will take place until the end of the year. The lecturer concerned claims that this was a genuine mistake and not intentional, in that guidelines for that one question were removed after a decision to add further examination questions, which made the guidelines obsolete; in the process of revising the papers, the lecturer made a mistake and did not remove the guidelines for both the English and Afrikaans versions. Nonetheless, the university management has decided on a disciplinary process involving the lecturer concerned, given the seriousness of the matter.

Released by: Lacea Loader (Director: Communication and Brand Management)
Tel: +27 51 401 3422/2707 or +27 83 645 2454
Email: news@ufs.ac.za | loaderl@ufs.ac.za
Fax: +27 51 444 6393

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