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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

Kovsies keep it green and clean
2012-09-10

Learners from surrounding schools do their bit for the environment taking part in the first ever Green Festival hosted on the Bloemfontein Campus.
10 September 2012

Celebrating all things green, the University of the Free State (UFS)’s first Green Festival started with a bang with the initiative being nominated for a national Eco-Logic Award.

The festival, hosted on Saturday 8 September 2012, drew the attention of a panel of highly respected environmentally aware individuals who selected the green initiative as one of five finalists in the recycling category of the Eco-logic awards. The awards are hosted in association with SABC3 and the university was selected out of nearly three hundred entries. The university will now compete with other finalists at a gala dinner at the Cradle of Humankind on 27 September 2012.

With learners from surrounding high schools who were invited to help clean parts of the city, the Bloemfontein Campus was abuzz with activity on Saturday. Staff and students from the university joined learners in taking part in activities such as the Green Film Festival where documentary movies on environmental issues were screened. Stalls and exhibitions displayed sustainable green materials and organic food. Residences took part in a body-painting competition to raise awareness about going green.

Prof. Jonathan Jansen, Rector and Vice-Chancellor, delivered a Green Festival address and praised Kovsie students for taking the lead in going green.“Our country’s future depends on us caring for the environment,” he told learners and students. “If we don’t take care of the environment, we will all be gone. It is about the next generation, about what we leave for the children.”
 

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