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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

Patricia de Lille: “Know the difference between right and wrong.”
2010-03-04

From the left are: Jeanie Britz, MBA student; Garth Botha, MBA student; Ms De Lille; Prof. Tienie Crous, Dean: Faculty of Economic and Management Sciences at the UFS; and Prof. Helena van Zyl, Director: School of Management at the UFS.
Photo: Stephen Collett


Ms Patricia de Lille, the Leader of the Independent Democrats, recently paid a visit to the School of Management at the University of the Free State (UFS). She spoke to students in the MBA programme about the leadership challenges South African business leaders are facing.

Ms De Lille voiced her opinion on many current issues, such as corruption. “Business is standing back with its arms folded and leaving everything to government. In fact, business is doing something very similar to what it was doing during apartheid,” she said.

She added that a business leader and his or her business could be found behind every corrupt transaction. “It is a relationship involving more than one party. If someone accepts a bribe, someone else is paying a bribe,” she said.

Ms De Lille lashed out at business leaders who received extravagant salaries and bonuses even after they had been asked to leave the company. “South Africa needs a new generation of business leaders that truly know the difference between right and wrong,” she pointed out. “And it’s wrong to demand the rest of your contract’s money and bonus after you have been fired because you obviously didn’t do your work.”

Ms De Lille also focused on the role that South African business played. Business should engage with the government to identify problems and find solutions to speed up transformation. “We need young entrepreneurs that are patriotic and think out of the box,” she said.

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