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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

A magnificent Winter Graduation Ceremony
2013-06-27

 

28 June 2013
Photo: Johan Roux

   Winter Graduation video (YouTube)

The way to immortalise a person, is to live by his example. PhD and master's graduates were imbued by the following message from Dr Khotso Mokhele, Chancellor of the University of the Free State (UFS), during the UFS Winter Graduation Ceremony: to follow Nelson Mandela's majestic example is to guarantee that his life was not in vain.

Dr Mokhele honoured the graduates for their achievements "that clearly did not come easy", referring to the sacrifices on their part and the role of their support structures.

He also praised members of the UFS' leadership team who contributed academically to the excellent standards. Prof Teuns Verschoor, former Vice-Rector: Institutional Affairs, and Prof Driekie Hay, Vice-Rector: Academic, were especially mentioned for their role as respectively co-promoter and promoter of two PhD graduates.

A total of 63 doctorates and 414 master's degrees were awarded to graduates from South Africa, Nigeria, Lesotho, Uganda and Zimbabwe on Thursday 27 June 2013.

On the previous day, the School of Open Learning kicked off the graduation event by conferring 320 qualifications.

The graduates, most of them full-time educators, received qualifications ranging from certificates to diplomas.

"I hope that you will plough back what you have learned and that this qualification will make you a better educator, an inspired one, one that will relentlessly put your efforts into increasing a better future for our children," Prof Hay said, highlighting challenges in South Africa's education system.

"Become enthused, obsessed and passionate to change the education system. Be the change agent in your schools to contribute in giving the quality education our children so desperately need," she said.

An exceptional moment at this year's graduation ceremony was when the two daughters of an academic, Prof Dave Lubbe of the Centre for Accounting, obtained their master's degrees. "It is indeed a highlight in my career that my daughters received their master's degrees cum laude at the same graduation ceremony, under my supervision!"

Prof Lubbe's two daughters, Nandi Lubbe and Leandi Steenkamp, both received their MCom with distinctions in Accounting. They completed their degrees under the supervision of Prof Lubbe and Nandi also won the Dean's medal as the best M student in the Faculty of Economic and Management Sciences.

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