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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

Cultivating excellence and success through academics
2011-10-07

 

Unlocking potential. At the Golden Key South African Summit 2011 were, from the left: Dr Derek Swemmer, Registrar (UFS); Prof. Driekie Hay, Vice-Rector: Academic; Mr Ryk Neethling and Ms Charlene Gunter, Director: Golden Key International Honour Society, South Africa.
Photo: Phelekwa Mpono

More than 130 delegates are gathering for the Golden Key, South African Summit at the Bloemfontein Campus of the University of the Free State (UFS). Golden Key International Honour Society recognises academic excellence and uses knowledge to transform lives. It has 400 chapters in eight countries. Of South Africa’s 12 chapters, 11 were present at the summit.

Prof. Driekie Hay, Vice-Rector: Academic at the UFS, welcomed delegates from the respective chapters. She commended them for their perseverance and dedication to excel. “Your academic aspirations and commitment contribute to cultivating a culture of excellence. It will provide a better future for every South African citizen,” she said. Prof. Hay challenged delegates also to “act” by turning their knowledge into actions to advance not only themselves but also society. She also urged them to “discover” everything about themselves, their chosen disciplines, allies and oppositions. “Mostly, you must internalise the spirit of lifelong learning,” she said.

Mr Ryk Neethling, Olympic gold medallist and businessman, was the first keynote speaker. He took everyone through the steps that ultimately led to the moment of victory for him and his team. “We found a way to compete with heart and determination in the 2004 Olympic Games. We were prepared and we took everyone by surprise. “To achieve what one has set one’s mind to, we must dream big,” he said. “Play your part in the team and be confident. Remember that you are victors and not victims,” he urged. He further emphasised the importance of making one’s own luck and, most of all, never to give up.

Another speaker for the summit includes Ms Peggy-Sue Khumalo, former Miss South Africa. Dr Derek Swemmer, Registrar (UFS) will present a workshop on Strategic Action Planning.

This event is the first external lecture that is presented in the Metro’s found in the new Health Sciences Building on the Bloemfontein Campus of the UFS.
 

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