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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

Powering the future
2014-07-10

 

Kovsie students with the organisers at the African Student Energy Summit.

Photo: Rirhandzu Marivate

Powering the future. This was the theme of the first-ever African Student Energy Summit. The event was recently hosted by the Cape Peninsula University of Technology (CPUT) in Cape Town. The summit was even more unique, since it was part of a global series of Energy Summits held simultaneously in the US, Mexico and Scotland.

Sixteen Kovsies, together with students from across South Africa, Nigeria, Ghana, Zimbabwe, DRC, Zambia and Cameroon united at this event. The main goal: to confront pressing energy challenges faced by our continent. During roundtable discussions, these students brainstormed issues such as the accessibility of energy, as well as driving efficiency and sustainability through the use of green energy.

Antoinette Nel, a Kovsie honours student in Spatial Planning, said, “Interacting with different speakers and students on green energy possibilities enhanced my understanding of how much can be done to change the current status quo on energy in Africa.”

During a student parliamentary session, the participants had to come up with recommendations on sustainable energy. These will be compiled in a document and sent to the African Union (AU).

“My biggest highlight was understanding the need for energy by most Africans, not for lighting or industrialised activities but rather for daily livelihood, for basic rights and services such as cooking, health and education,” said Justman Suh, also an honours student in Spatial Planning at Kovsies.

“We are creating spaces to challenge Afro-pessimism in Africa through these platforms,” Dr Elizabeth Rasekoala, Chairperson of Green Shift Africa, said during the summit. 



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