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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

Advocate Thuli Madonsela leads Law Symposium on corruption
2014-06-05

 

Advocate Thuli Madonsela speaking at the Law Symposium on corruption.

The Faculty of Law, Centre of Business Law held a symposium on corruption in the public sector. The symposium took place on 5 June 2014 in the CR Swart Auditorium on the Bloemfontein Campus.

In her keynote address, Public Protector Adv Thuli Madonsela highlighted the government’s efforts to curb the high rate of corruption prevalent in the South African public sector. She also pointed out the effect it has had on service delivery, especially in municipalities and key government departments.

This highly-anticipated event drew a large group consisting of members of the public, the judiciary, government, non-governmental organisations, as well as the business and academic sector.

Responding to questions from the floor, Adv Madonsela spoke of corruption as an on-going problem that should be tackled in a collective effort by government officials and the public alike. “Whistleblowers are our main hope in fighting corruption … The Protected Disclosures Act protects them … it is also management’s responsibility to protect whistleblowers,” she said.

The symposium featured several well-respected names, including:
• Prof Jonathan Jansen, Vice-Chancellor and Rector;
• Honourable Justice I van der Merwe, Judge of the Free State High Court and Chairman of the Council of the UFS;
• Honourable Justice FDJ Brand, Judge of the Supreme Court of Appeal; and
• Prof JJ Henning, Acting Dean of the Faculty of Law.

Other high-ranking legal professionals from the office of the Director of Public Prosecutions, PriceWaterhouseCoopers, the Free State High Court and the Institute of Security Studies attended the event.


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