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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

Kovsie Open Day a resounding success
2010-05-05

 
 Photo: Gerhard Louw


The Kovsie Open Day 2010 that took place on the Main Campus of the University of the Free State (UFS) in Bloemfontein last week, was attended by more than 6 000 prospective students and their parents. This event was a resounding success. Thus report our prospective students, their parents, campus personnel, as well Prof. Jonathan Jansen, Rector and Vice-Chancellor at the UFS.

Parents and learners from across South Africa were firstly welcomed by Prof. Jansen, the Deans and Moses Masitha, the President of the Student Representative Council (SRC) in the Callie Human Centre. Thereafter they were afforded the opportunity to visit the various exhibitions in the faculties and residences. Parents and learners could also complete application forms for entrance to the UFS in the tent of the Division Corporate Relations on the Red Square. Liesl Cronje from Magaliesburg, who wants to come and study B.Sc.Agric. at Kovsies, was named as the winner of R3 000 by Corporate Relations after her application form had been selected in a lucky draw.

Residences and student organisations also had information points on the grass in front of the Main Building, where more information was given out to prospective students. Armentum, Vishuis and Karee won the first, second and third place respectively with their information points. The ladies’ residences Vergeet-my-nie, Emily Hobhouse and Soetdoring respectively boasted with the best information points.

The first official Kovsie slogan competition was also held and Madelief was appointed as the winner.

This day was held to provide prospective students and their parents with the opportunity to become better acquainted with the distinctive quality that the UFS offers its students. Staff and students also provided learners with the necessary information to enable them to make the right decisions regarding their career and studies next year.
 

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