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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

UFS releases draft charter to accelerate transformation
2007-02-02

The University of the Free State (UFS) today released a draft Institutional Charter which is intended to enhance and accelerate the ongoing transformation of the institution towards a non-racial, non-sexist future.

Speaking at the official opening of the university today, the Rector and Vice-chancellor, Prof Frederick Fourie, said the draft Institutional Charter, was an important milestone in the transformation debate for the university and the country.

“The draft charter acknowledges that black people, women and people with disabilities have been marginalised from job and developmental opportunities, within the higher education sector and at this university,” Prof Fourie said.

The charter commits the university to meeting the challenges of a transforming higher education institution in a developing society, in particular the challenges of nation-building, reconciliation, redress, non-racialism and non-sexism – and ultimately normalisation – within a high-quality academic institution.

The principles of the draft charter firmly signal the university’s commitment to diversity – attaining and maintaining substantive and sufficient diversity (including multiculturalism and multilingualism) – in its quest for quality and excellence. 
Prof Fourie said the draft charter seeks to build consensus among staff and students at the UFS about the ultimate goals of transformation at a higher education institution.

The charter proposes several basic values and principles that should guide the transformation process and at the same time serve as a basis for a future, normalised university - a promised land to transform towards.

The discussion document says academic quality is intrinsically linked to transformation and it commits the university to strengthening the core competencies of research, teaching and learning as well as community service so as to ensure a robust university for future generations.

“Indeed the thousands of matriculants, black and white, who apply to study at the UFS want to study at a good university, and a good university wants to attract the best black and white students and the best black and white staff, male and female,“ Prof Fourie said.

He said the draft charter also seeks to safeguard academic freedom and institutional autonomy as the foundation of critical inquiry and scholarship.

Regarding the critical issue of creating a new institutional culture, the draft charter commits the UFS to creating a sense of belonging for all members of the university – black and white, male and female, of whatever language, religious, cultural or economic background, as well as people with disabilities.

Media release
Issued by: Lacea Loader
Media Representative
Tel:  (051) 401-2584
Cell:  083 645 2454
E-mail:  loaderl@mail.uovs.ac.za
02 February 2007

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