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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

New residences officially open
2013-03-06

 
Celebrating the official opening of the two new residences, were Vusumzi Mesatywa, Prime of House Outeniqua and Sherilyn Roelofse, Prime of House ConLaurês.
Photo: Johan Roux
06 March 2013

 

  Video clip (YouTube)

The one implies dreams of victory; the name of the other means ‘bringers of honey’ in the Khoisan language.

With these unique names, two new residences, House ConLaurês and House Outeniqua, will create new memories for generations of Kovsie students. The two residences were officially opened on the Bloemfontein Campus of the University of the Free State, bringing the number of junior residences on the campus to 19.

Celebrating the new addition to residence life, Mr Quintin Koetaan, Director: Housing and Residence Affairs, told residents of House ConLaurês and House Outeniqua that they were part of history. He told guests that the residences will provide accommodation for a new generation of students and encouraged residents to breathe life into their respective abodes.

“Nobody thought that two residences could be built in a year,” he said about the short time between the planning and opening of the residences in January this year. The two residences welcomed 250 students each, with male and female students living under one roof, but in separate units.

Prof Jonathan Jansen, Vice-Chancellor and Rector, praised Koetaan and his team, as well as the developers, saying they have done something completely different on the campus. He said the two residences will create a place which students can call home. “It will create a place not just to eat and sleep, but also to learn. It will create memories for many years to come.”

Mr Rudi Buys, Dean: Student Affairs, said House ConLaurês and House Outeniqua is much more than simply residences. “It’s about the university putting its heart out there, showing what can be done.” He told guests that representatives from other universities and the Department of Higher Education and Training have visited the UFS to see what is being done here.

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