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12 December 2022 | Story Kekeletso Takang | Photo Supplied
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

Mpofu-Walsh inspires with music, word, and wisdom
2017-08-22

Description: TEDxUFS   Tags: TEDxUFS

Sizwe Mpofu-Walsh shared with the audience the
creative process of writing a song at the 2017
TEDxUFS conference.
Photo: Voxomnia

“Sometimes it’s the parts of us that give us the most agony, the parts of us that we think we need to change to conform to other people’s expectations, which are actually the gateways which allow us to make an impact in the world.”

This encouragement from Sizwe Mpofu-Walsh was one of the highlights of the 2017 TEDxUFS conference. According to the author, musician, and activist, we should embrace every part of ourselves. We should understand that the way in which each of us can change the world, is by becoming one with all the different parts of us which people think can’t come together.

Audience hears project for first time

For the first time ever, Sizwe shared material from his project Democracy and delusionwith an audience at the 4th annual TEDxUFS conference in the Odeion Theatre at the University of the Free State on 5 August 2017. Other speakers included the likes of Murendeni Mafumo, founder of Gentle Giant, and Elijah Djan, CEO and inventor of Nubrix.

The event also included TEDx videos, breath-taking performances, and cutting-edge technological exhibitions. The theme was Prism of Possibilities.

Launching a book and album together

Sizwe shared how he, while studying at the University of Oxford, embarked on an ambitious project where he combined his passion for academics and music: To release a book and album about the same things at the same time.

The project is a reflection of the political landscape in South Africa. Sizwe showed how he created a song about student protests by putting different layers of music together.

“The only way to do something that will leave you truly remembered is to do something different. It is to take all of yourself and pour it into the creative pursuit that you produce.”

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