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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

Because you can do the undoable
2014-05-30


Gabriela Schroder

Since visiting the University of Vermont in 2011 as an F1 student and attending the Stanford Sophomore College the year after, Gabriela Schroder has never stopped dreaming and working towards her objectives.

During the autumn graduation earlier in 2014, Gabriela received the Dean’s Medal. This award goes to the final-year student who achieves the best results in respect of a first Bachelor’s degree in the Faculty of Natural and Agricultural Sciences. Her triumph did not end there. In addition, she also received the Senate’s Medal and Prize which is awarded to the best Bachelor’s degree student at the university. Across all the faculties of our university. 

“Although these medals came to me as a surprise, it really was a reward to my hard work and toil throughout my undergraduate years,” she said. Schroder was also honoured and introduced by Prof Jonathan Jansen on stage at this year’s Kovsie Open Day, along with other top achieving students. She believes that anybody can reach their goals if they are willing to make sacrifices and through focus, hard work and determination. 

One of her favourite quotes that motives her is of Albert Einstein, “You really understand something if you can explain it to your grandmother.” In the process of learning, one must break down what they are working towards. She advises to make the knowledge your own – this develops a better insight into the concept. In the end, that which is regarded as complex is originally built from simple principles.

Schroder is currently studying towards her BSc Honours in Biochemistry at Kovsies. She has her sights set on a master’s degree in the near future.

“To my fellow Kovsies and beyond: seize your opportunities. Don’t be afraid to think the unthinkable – because you can do the undoable,” she added.

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