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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

Protest actions planned for 12-14 March 2008

2008-03-13

Three protest actions will take place on the Main Campus of the University of the Free State (UFS) in Bloemfontein this week.

Although the interim court interdict granted to the UFS on 6 March 2008 is still in force, permission for the three protests was granted by the Mangaung Local Municipality and the court, in the presence of the university lawyer. Strict conditions have been set for these protest actions.

The UFS management respects the right to peaceful protest and also shares the sentiment of the protesters regarding the reprehensible Reitz video. However, strict conditions have been set for these protest actions as students are writing tests and the normal academic activities should not be disrupted.

Already the first picket protest took place today, Wednesday, 12 March 2008, by about 300 Satawu and Nehawu members. This was not a march and no memorandum was handed over.

On Thursday, 13 March 2008, Nehawu will again picket in front of the Main Building from 13:00 to 14:00. This event must be peaceful. This too is not a march and no memorandum will be handed over.

On Friday, 14 March 2008, a march of Cosatu and Nehawu will take place, starting in the city centre. The march will enter through the Nelson Mandela Drive gate and will enter the campus grounds.

However, it will be limited to the incoming lane of Chancellors Avenue from the Main Gate to the crossing with Alumni Avenue (in front of the Odeion building). Speeches will be made and a memorandum will be handed over.

It is expected that the march will reach the campus at approximately 10:00 and from then the Nelson Mandela Gate to the UFS will be closed for all traffic. The march must end by 14:00. The marchers will return to the city centre and may cause a traffic problem in Nelson Mandela Drive.

The South African Police Service (SAPS) and the UFS’s Protection Services Division will monitor all these actions. Staff, students and visitors to the campus are kindly requested to use alternative gates to the Nelson Mandela entrance on Friday. Academic activities will continue as normal this week.

Media Release
Issued by: Anton Fisher
Director: Strategic Communication
Tel: 051 401 3422
Cell: 072 207 8334
E-mail: fishera.stg@ufs.ac.za
12 March 2008

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