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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

Nobel Prize winner to deliver inaugural Reconciliation Lecture
2012-10-29

Nadine Gordimer
11 October 2012

Renowned writer and Nobel Prize winner Nadine Gordimer will deliver the inaugural Reconciliation Lecture at the university on Wednesday 7 November 2012.

Nadine Gordimer received the Nobel Prize in Literature in 1991. Her latest book, No Time Like the Present, was published in March 2012.

Her writing deals with moral and racial issues during apartheid and books such as July's People were banned. She participated actively in the anti-apartheid movement and has recently been active in HIV/Aids causes.

She has received honorary degrees from Yale, Harvard, Columbia, and the New School for Social Research in the USA, the University of Leuven in Belgium, the University of York and Cambridge University, both in England, and the Universities of Cape Town and the Witwatersrand. France also honoured her with a Commandeur de l'Ordre des Arts et des Lettres.

The lecture on Wednesday 7 November will start at 17:30 in the Kovsie Church.

The public is welcome to attend. Please RSVP to Rochelle Ferreira on 051 401 9808 or FerreiraR1@ufs.ac.za.
 

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