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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

Nothing beats hard work, says Kovsie
2011-10-13

 

Khethiwe Mtshali

Khethiwe Mtshali is a classic example of a go-getter. This hard-working 23-year-old student from Ladysmith, who is currently studying at our Qwaqwa Campus, strongly believes in her own abilities. She believes that hard work pays off and that a person will be richly rewarded if you give it your best. Khethiwe has recently returned from a month-long visit to China where she was stationed at the Fresh Water Fisheries Research Centre of the Chinese Academy of Fishery Sciences in Wuxi City.

“I was nominated to go to China to learn and conduct research, as South Africa lacks expertise in the field of food security and related fields of science,” says Khethiwe, a 2011 recipient of the Golden Key Award and an M.Sc.in Zoology student who specialises in Parasitology.
 
“The Chinese is a hard-working nation that I wish we could emulate as South Africans. Doing my research on parasitology of fish and other related agricultural diseases over there was a worthwhile experience that will not only benefit me as an individual, but the entire Parasitology Division of the Department of Zoology and Entomology at the Qwaqwa Campus. This research is surely going to put the university and the entire country in a better position to compete with the best in the field of parasitology,” Khethiwe said.
 
After completing her B.Sc. degree in 2008, Khethiwe worked as a teacher at Ezakheni High School for a year before she was summoned back to our university by her mentor and Head of the Department of Zoology and Entomology, Dr Oriel Thekisoe, where she studied towards an honours degree, which she passed with distinction last year.
 
“If it had not been for Dr Thekisoe, I think I would still be a teacher whose potential would not have been tapped to the maximum. I wish to thank him for pushing me to do my best at all times. He has taught me that where there’s a will, there’s a way,” Khethiwe said.
 
The best is yet to come for this proud Kovsie who can teach you a thing or two in Chinese!

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