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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

UFS and Griqua National Conference work together
2009-03-04

 

Delegates from the Griqua National Conference (GNC) and role players from the University of the Free State (UFS) recently met on the South Campus of the UFS to put the objectives of a Memorandum of Understanding into practice. Some of the objectives are research, programmes and projects focusing on economic, educational, political, cultural/heritage and socio-social matters. “Research in different fields is important for the survival of the Griqua in South Africa and the UFS gives credibility to the Griqua’s research projects,” says Mr Cecil le Fleur, Chairperson of the GNC’s Council of Chiefs. According to Mr le Fleur, the GNC wants to work with the UFS because the institution reaches out to the communities of the Southern Free State. There is also mutualistic cooperation in this area that is of benefit to both partners. “Together with the UFS we will also be investigating the feasibility of the production of a documentary film on the role of the Griqua in the central interior, its political models and the role the Griqua played in the establishment of white settlers in this area. We also want to investigate and implement other relevant points of tangency,” says Mr le Fleur. Here are, from the left: Mr le Fleur, Ms Elizabeth le Fleur, Chairperson of the Cultural Group, which is one of the focus areas of the cooperation agreement, and Rev Kiepie Jaftha, Chief Director: Community Service at the UFS.
Photo: Lacea Loader

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