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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

MSc student plans to FEED our hungry planet
2015-01-27

Photo: Hannes Pieterse

Since attending the 2014 Youth Ag-Summit in Canada, Lisa Coetzee – an MSc student in Plant Pathology in the Department of Plant Sciences at our university – developed a plan to address hunger:

FEED – Forum of Education, Empowerment and Development.

Coetzee, together with a junior lecturer at Plant Sciences, Marguerite Westcott, started this student association to tackle the issue of food insecurity head-on.

Education, empowerment and development “are keywords vital to the solutions to poverty. Hunger is an issue which is found in our own homes. One in every four South Africans is food insecure. Hunger kills more people every year than Aids, malaria and TB combined,” says Coetzee.

“This forum allows awareness to be raised about the hunger situation locally and globally. FEED is talking about hunger and it is assisting in reducing it by reaching out to communities which are in need.

“FEED is the generation which is going to make a difference in eradicating hunger,” Coetzee continues. “We want students to think about how they can feed the hungry through what they are studying”. For Coetzee it is a high priority to ensure that the youth are aware of the importance to feed our hungry planet in a sustainable way.

Her philosophy on relieving hunger and increasing food safety is to enhance the efficiency of crop production, ensure crop security and reduce mycotoxins in the food we eat.

During the 2014 summit, Coetzee was elected to represent the African delegates on the Youth Ag Summit Committee. Ever since, she has been enthusiastically active in the agricultural community. As 43% of the globe’s farmers are women, Coetzee also feels she acts as a voice for female farmers in South Africa.

An important lesson Coetzee has learned is that there is power in one person to make a change – that we should start small but think big.

If you would like to get involved in this project, contact Lisa Coetzee on +27(0)51 401 9681 or email coetzeela@ufs.ac.za.

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