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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

New SRC Sport talks about campus pride
2014-10-21

Media Studies and Journalism student, Dominique de Gouveia, can attest to the fact that you need to take all the small steps before you make the giant leap.

As Residence Committee member for Sport since her first year, Dominique found the transition to the Student Representative Council (SRC) merely a case of now putting on the striped blazer. Having worked closely with Lourika Hugo, previous SRC Sport, there was not really much that she had to take grasp of.

“Our varsity has almost the same sport fixtures every year, so once you understand it, it should not be that difficult to follow through,” says Dominique confidently.

“You need to set goals in order to achieve them. I quickly realised that this is what I want to do. Sport is very big on our campus among the students and in my term I want other channels to realise the importance of sport.”

“The motto of previous SRC Sport, Tshepo Moli, was ‘transformation in sport’, which can indeed make a social impact on our varsity.”

“Through sport, our varsity can take pride in showing diversity.”

The variety of sports Dominique enjoys playing and watching, shows just how much she really loves what she is doing.

“My favourite sports have to be soccer and squash. But after watching the Varsity Netball this season, it made me wish that I had learnt how to play netball as far back as high school.”

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