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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

New name and format for UFS Rag
2017-11-02

Description: Rag new format  Tags: Rag new format  

The community garden project will help individual student communities
to begin and maintain their own vegetable gardens to address food insecurity
within their own environment.
Photo: Pixabay

Get ready for celebrating with a cause at the University of the Free State (UFS). After an external review and internal consultation process, our “giving back” will get a fresh new look. Our RAG, as you know it, will have a new name and format going forward. 

Innovative thinking will align the UFS Student Affairs, RAG Community Services (RCS), Community Engagement (CE), and Services Learning (SL) to deliver suitable contributions for current community needs. We will guide the alignment process with an integrated framework for learning and developmental outcomes. If the RCS, CE, SL, and Student Affairs align their specific programmes and activities to achieve the same developmental outcomes, we believe that the collective effect will be enhanced. You get further if you pull in the same direction, rather than various good-intentioned movements on different routes. 
 
Stronger together An Institutional Committee for Civic and Social Responsibility (CSR) will act as the overarching structure for accountability, alignment, and advice to the RCS, CE and SL divisions. In a collective effort, four exciting programmes will take flight.

1 Schools project for first-year students Mentored by senior students, groups of first-year students will be assigned to, and participate in local school projects. Students will learn to solve problems and work together in small groups as they collaborate on a specific community project involving primary or secondary schools in the Mangaung region. 

2 Community gardens This project will help individual student communities to begin and maintain their own vegetable gardens to address food insecurity within their own environment.

3 Eco-vehicle project for senior students The aim of the eco-vehicle project is to create an interdisciplinary experience. Undergraduate senior students from a Student Life College (SLC) can work together to build an eco-vehicle from waste material. The track day, along with creative pit stops, will take place on 16 February 2018, preceding the Community celebration of 17 February 2018.

4 Community celebration To foster good relationships between the UFS and the community, we aim to host an annual celebration that will be open to the broader Mangaung community. The celebrations will kick off on the morning of 17 February 2018 with a business relay and a showcase of the eco-vehicles. The festive day will conclude with an evening music concert. 

We have yet to rename “RAG”, and while this creative process is brewing, you can look forward to paying it forward with value! Any suggestions with regard to a new name for our new process can be forwarded to scheepersk@ufs.ac.za 

Name suggestions will be accepted until 30 November 2017.

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