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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

Student Council welcomes international students on campus

2017-03-16

Description: International students on Qwaqwa Campus Tags: International students on Qwaqwa Campus

Some of the guests and International Student
Council (ISC) members during the welcome
function. From the left are: Tatenda Goche (Deputy
Chairperson), Loice Nzombe (Chairperson),
Bulelwa Moikwatlhai (Office of International
Affairs), Jennifer Ashafa (Secretary), and
Takudzwa Nyamunda (Chairperson on the
Bloemfontein Campus)
Photo: Thabo Kessah

SRC President Njabulo Mwali says that the presence of international students on the Qwaqwa Campus is very welcome as it enables students from all over the world to learn from each other. He was addressing the International Student Council’s welcome function for international students.

“One important area where South African students can learn a lot from international students is hard work. It is an open secret that many of us, as South Africans, are not as persistent as we should be. We give up easily,” he said to an audience of students mainly from Zimbabwe, Kenya, Ethiopia, and Nigeria.

Speaking on behalf of the Rectorate, the Registrar: Systems and Administration, Dr Karen Lazenby, assured international students that the UFS is committed to their emotional and physical wellbeing.

International students face various challenges

“Having been an international student myself, I fully understand your various challenges. If you have any ideas on how we can make your stay here as memorable as possible, please help us to help you,” she said.

Both Drs Elsa Crause and Dipane Hlalele, respectively Campus Vice-Principal: Academic and Research and Acting Campus Vice-Principal: Support Services, congratulated students on choosing the Qwaqwa Campus.

“Our campus will give you many opportunities to reinvent yourself both as a person and a student,” Dr Crause said.

Dr Hlalele added: “International experience is fascinating as it does not only provide different types of knowledge and truth, it also enriches the campus with an African and international footprint.”

The Office of International Affairs also presented its services to students.

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