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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

Arts Festival Rally promises to be great fun
2009-05-20

The annual Amazing Rainbow Rally, presented by the Department of Paediatrics and Child Health and UFS Marketing, will take place on Friday, 17 July 2009 during the Volksblad Arts Festival on the Main Campus of the University of the Free State (UFS) in Bloemfontein.

This year all the checkpoints will be on the campus and around the Arts Festival grounds. Corporate companies in Bloemfontein and departments at the UFS may still enter teams and checkpoints.

The closing date for entering teams is 26 June 2009. A team consists of two team members who must work together to complete a route with various checkpoints. The team, who finishes first after having successfully completed all the tasks, is the winner. Last year, Dr I Babst en Dr L Solomon from the Department of Paediatrics and Child Health were the winners of the Rally.

The closing date for entering a checkpoint is 17 June 2009. Teams must complete tasks at every checkpoint before proceeding to the next checkpoint. The company sponsoring the checkpoint will also be responsible for handling the activity at the checkpoint.

The “Arts Festival” Rally promises to challenge teams physically, mentally and even artistically. Festival goers will also have the opportunity to see what teams get up to and how their favourite team is doing.

The Rally will be presented for the fifth time in 2009. The main goal of this year’s Rally is to raise funds for the Department of Paediatrics and Child Health’s “Beds of Hope Campaign”. This campaign seeks to increase the number of intensive care beds in the paediatric and neonatal wards. Currently around 250 children and babies in central South Africa cannot receive the life-saving care they need because of a lack of facilities.

For more information and entry forms, contact Ms Adéle van Aswegen at 051 401 3535 or e-mail to vanasweg.stg@ufs.ac.za . You can also visit our website at http://bedsofhope.ufs.ac.za  


Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za

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