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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

Ladies smash competition to reign supreme

2017-03-09

Description:Stagedoor 2017 Tags: Stagedoor 2017 longdesc=

This year, the ladies from Roosmaryn and Sonnedou
walked away as the Stagedoor winners.
Photo: Johan Roux

This year, the first-years gave a show-stopping performance as they showed the audience how to make Stagedoor great again.

Hard work and sacrifice pays off

Let’s make Stagedoor great again was the theme behind this year’s Stagedoor production, which allowed all residences to get their creative juices flowing by bringing the theme to life in their own unique way.

Divine Bitalo, Roosmaryn RC Culture, said that they are honoured to have been crowned as the champions. “We put in a lot of hard work and sacrifice and we are just glad that everything worked out in the end.”

First-years given amazing platform

Teneal van Deventer, Sonnedou RC Culture, concurred with the words of Divine and also thanked the university for the opportunity. “I would like to thank Kovsies for giving our first-years this amazing platform to showcase their talents and make new friends.”

The Stagedoor finals, which took place on Saturday 4 March at Kovsie Church, saw our first-years battle it out to be crowned as this year’s winners and claiming the bragging rights for the year.

The winners were:

1st place: Roosmaryn and Sonnedou

2nd place: BeyCon (Beyers Naude and Conlaures)

3rd place: Marjolein and Legatum

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