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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 launches focused research niche areas
2009-11-20

The University of the Free State (UFS) will launch its six research niche areas, the Strategic Academic Clusters, from 23-25 November 2009 on its Main Campus in Bloemfontein.

These Clusters represent a move from a fragmented to a more focused approach to research development at the UFS and will in future direct the University’s research endeavours.

“The UFS is increasingly operating in a competitive environment where South African universities no longer compete only with their national counterparts, but also internationally. With the Clusters the University will follow a focused approach to the strategic selection of niche knowledge platforms and research areas,” says Prof. Frans Swanepoel, Director of Research Development at the UFS.

The Clusters are: Water management in water-scarce areas; New frontiers in poverty reduction and sustainable development; Transformation in highly diverse societies; Technologies for sustainable crop industries in semi-arid regions; Materials and nanosciences; and Advanced biomolecular research.

“The Clusters embody the pursuit of quality and excellence and the name signifies the University’s concern not only with research, but also with under- and postgraduate teaching and learning. The vision is that the Cluster activities will not only drive world-class research outputs, but also contribute to internationally renowned graduate programme activities,” says Prof. Swanepoel.

Each of the Clusters is led by a dedicated director who provides academic leadership, facilitates cutting-edge research, leverages multidisciplinary synergies and coordinates the overall Cluster activities.

Next week’s launch programme will start on Monday, 23 November 2009 with a gala dinner, followed by a plenary symposium on Tuesday, 24 November 2009, during which the Clusters will be introduced.

Several national and international experts in the fields covered by the Clusters will take part in this symposium. They are, amongst others: Dr Danny Walmsley from St Mary’s University in Canada; Dr David Wolfe from Cornell University and Dr David Clark from the National Institute of Health, both in the USA; Mr Mark Ashley from the Desert Knowledge Cooperative Research Centre in Australia; Dr Ian Goldman from the Office of the Presidency in South Africa; Prof Peter Ewang from the South African National Development Agency; Mr Willem Louw from Sasol Technology; and Dr Pumla Gobodo-Madikizela from the University of Cape Town.

On Wednesday, 25 November 2009 each Cluster will present its own symposium.

Media release
Issued by: Lacea Loader
Deputy Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za  
20 November 2009

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