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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

University grooms future leaders
2013-02-28

Nangamso Koza, volunteers and learners who participated in the RCL training programme.
Photo: Linda Fekisi
28 February 2013

The UFS recently hosted a group of Representative Council of Learners (RCL) from 24 high schools in the Free State. The learners participated in a RCL training programme, the first of its kind, which will take place on a quarterly basis.

The learners were welcomed by Prof Jonathan Jansen, Vice-Chancellor and Rector of the university. Prof Jansen emphasised the need for academic excellence in his welcoming speech, telling learners not to settle for a pass rate of 30%. He motivated them to study hard in order to reap rewards, regardless of their disadvantaged backgrounds. He told them about first-year student, Zandile Kwela and others, who excelled in the 2012 matric exams despite disadvantaged backgrounds.

Nangamso Koza, Research Assistant in the office of the Vice-Rector: External Relations, who helped to coordinate the programme, said leadership development is vital, as early as the basic education phase. “The objective was to offer the RCL some of the skills and knowledge we have, to enable them to dream out of the box."

Mr Pura Mgolombane, Assistant-Dean of Student Affairs, shared what student leadership is all about, the values that a leader needs to have and the relevant constitutional documentation and acts they need to know.

Madineo Mofokeng, an RCL member from Excelsior Combined School, describes her experience as a great one. “I learnt many things that will help me improve my school. I also learnt that by believing in yourself, you can do anything you put your mind to,” she added.


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