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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

National Science Week – today's science, tomorrow's world
2014-07-30

 
For the 2014 National Science Week, the university – in partnership with the Department of Science and Technology – celebrate this country-wide event at our South Campus. For one week each year, universities, schools and science centres across South Africa highlight the role that science plays in everyday life. The theme of this year’s celebration is ‘Today’s Science, Tomorrow’s World.’

Over 4 000 learners, educators, parents and dignitaries converged at the campus on Saturday 2 August 2014 to experience science at work. The day featured an array of exciting science activities, including a sky-viewing opportunity at the nearby Boyden Observatory.

“Every aspect of life is touched by science. And with more vibrancy in the approach to teaching maths and science, great potential can be unlocked among young people – impacting on quality of life in the future,” said Dr Choice Makhetha, the Vice-Rector of the University of the Free State.

The Minister of Science and Technology, Naledi Pandor, also spoke at the event. "Our success depends on whether our country is ready to harness the advantage of large numbers of young people who are able and willing to work. This is where the provision of education becomes an important resource in ensuring that our young people are well prepared and equipped with knowledge and skills to handle life."

Events such as the National Science Week, Minister Pandor said, were aimed at boosting interest in scientific and technological development and innovation. This, in turn, helps the country transform into a knowledge-based economy. 


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