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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

New champions crowned at first-year athletics

2017-02-03

Description:UFS first-year athletics Tags: UFS first-year athletics longdesc=

It was a day filled with excitement on and off the
track when the residences at the University of
the Free State competed against each other
during the first-year athletics event.
Photo: Charl Devenish

The University of the Free State’s first-year athletics is an institution. It is a day marked by colour, spirit, and hoarse voices, but in 2017 produced something different than the last couple of years.

For the first time in four years, new athletics champions were crowned in both the men’s and women’s sections when Veritas and Sonnedou walked away with the trophies at Pellies Park on the Bloemfontein Campus on 25 January 2017.

Wag-’n-Bietjie, Vishuis relinquish titles

Sonnedou, who came second in 2016, broke Wag-’n-Bietjie’s stronghold of the past six years by winning the women’s athletics trophy. Furthermore, Sonnedou won this trophy more than a decade ago – in 2004. Veritas, who won the men’s athletics trophy for the first time since 2011, also put a stop to Vishuis’s dominance. House Abraham Fischer has worn the athletics crown for the past three years.

This year, Vishuis (70 points) took second place after Veritas (76), with Armentum (61) third. Sonnedou (99 points) easily triumphed in the women’s division, while Akasia (36) and Wag-?-Bietjie (34) respectively took second and third place.

Veritas captures overall Spirit trophy

However, the event is about much more than the action on and around the athletics track. First-years also get the opportunity to show pride in their residences by shouting at the top of their lungs.

Veritas, better-known in recent years for its excellent sêr groups, asserted itself even more by being named as the overall winner of the Spirit trophy. This residence was also the winner of the men’s section. Harmony won the Spirit trophy for women’s residences, while Conlaurês was the co-ed residence with the greatest spirit.

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