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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

UFS works closely with employees in the post-Reitz settlement process
2013-05-20

20 May 2013

In the light of an article in IOL News on 18 and 19 May 2013 and in Sunday Independent and Sunday Tribune on 19 May 2013 in which it is alleged that the University of the Free State (UFS) has failed to honour its commitment to the five Reitz employees we are pleased to report on the ongoing process and progress made with respect to their employment.

The university remained consistently true to the settlement agreement and High Court order of 2011 and cannot apologise for complying with the law. It was therefore impossible for us to talk to our colleagues directly until last week when we had a breakthrough meeting, which was cleared by the Human Rights Commission (HRC), and matters were resolved.

The UFS continues to work closely and now directly with the five employees to ensure that their rights as employees remain the highest priority in the post-settlement process.
 
All but one of the conditions of the Reitz settlement (own business) has already been met; however, we are in the process of providing training and support for the establishment of an independent business led by the employees.

After some delays, and frustration on all sides, we have found the right training provider for them and are satisfied that the process remains on track. The business office (furnished) has been allocated at the South Campus in Bloemfontein.

Already in late 2012 the Chair of the HRC expressed his satisfaction with the commitments made by the university to the process. By 30 June 2013 this outstanding commitment to establish an independent company with trained employees would also have been met in full.

Beyond the settlement agreement, the UFS has also committed to providing free education and training to the children of the employees so that their next generation of families emerge as strong, independent, well-trained and productive members of society. The child of one of the colleagues is in fact finishing Grade 12 this year and we are in discussion about possible studies at the UFS. This is our pledge and commitment as a university.

This final step in the post-Reitz settlement is being led by Dr Choice Makhetha, Vice-Rector of the University of the Free State.

 

Issued by: Lacea Loader
Director Strategic Communication
Tel: +27 (0) 51 401 2584 / +27 (0) 83 645 2454
E-mail: news@ufs.ac.za
Fax: +27 (0) 51 444 6393
Web: www.ufs.ac.za

 

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