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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

Senior leadership approves CSRC appeal
2012-05-14

The senior leadership of the UFS has approved the appeal lodged by the Central Student Representative Council (CSRC) to allow students deregistered on 30 April 2012 for not meeting their financial obligations, to write the May/June 2012 exams.
 
As from 14 May 2012, a relatively small number of 428 deregistered students will automatically have their registration reinstated and they will be granted the opportunity to write exams, provided that they have obtained a 40% predicate mark for each module.
 
A name list of the deregistered students will be sent to the heads of departments where they were enrolled. Only students who have obtained a 40% semester mark will be permitted to write exams.
 
Today the Executive Committee of Senate approved a recommendation that those students who only become aware of this arrangement after one of their scheduled modules has already been examined, may apply for permission to the Academic Timetables and Venues Office, Room 166, George du Toit Administration Building on the Bloemfontein Campus, to write a special examination. On the Qwaqwa Campus students may apply for permission to the Examination Section, Room 137 in the Administration Building.
 
This will, however, be a once-off opportunity and students will not be afforded another opportunity to write exams if they miss the first examination opportunity as well as the special examination. A student who writes only the special examination and fails will not be given a further opportunity. A student who writes the main examination and does poorly, but qualifies for a supplementary examination, may write the supplementary examination in the additional examination period.
 

This arrangement applies to all UFS campuses.
 

Media Release
14 May 2012
Issued by: Lacea Loader
Director: Strategic Communication
Tel: +27(0)51 401 2584
Cell: +27(0)83 645 2454
E-mail: news@ufs.ac.za

 

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