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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

NRF commits R30-million for research at the UFS
2007-02-20

The National Research Foundation (NRF) has committed approximately R30-million for various research projects at the University of the Free State (UFS).
 
According to Prof Frans Swanepoel, Director of Research Development at the UFS, the NRF has also approved all eight research niche areas that were submitted to the NRF, the highest number approved at any university in the country.
 
Prof Swanepoel said the 24 research projects for which funding had been obtained from the NRF ranged from traditional healing and HIV/Aids/tuberculosis management, practices of the paediatric anti-retroviral programme at the UFS to nano-materials synthesis and characterisation.
 
He said the eight research niche areas were part of an initiative at the UFS to establish strategic clusters of academic and research excellence.
 
“There will be six strategic academic clusters at the UFS and the eight NRF-approved research niche areas will form part of them,” Prof Swanepoel said.
 
The six strategic clusters are:
1.         Water management in water-scarce areas
2.         New frontiers in poverty reduction and sustainable development
3.         Social transformation in diverse societies
4.         Ecologically sound value chains for agricultural commodities
5.         Materials and nano sciences
6.         Advanced bio-molecular research
 
Prof Swanepoel said that the UFS had also submitted five proposals in terms of an NRF initiative to establish research chairs at South African universities.
 
“Linked to our intention to establish six strategic academic clusters, five proposals for the South African Research Chair Initiative (SARCHi) were submitted. All five pre-proposals were accepted in the first round of screening, and successful candidates have been invited to submit full proposals by the end of February,” he said.
 
The proposed research chairs are:
 
Petro- and organometallic chemistry
Biocatalytic and biomimetic oxidation-reduction systems
Nano-solid state lighting
People’s health and well-being
Water management
 
Speaking at the official opening of the university earlier this month, the Rector and Vice-Chancellor of the UFS, Prof Frederick Fourie, said: “The cluster initiative represents a strategic initiative to focus our energies in a few key areas, investing in them so that the UFS can become an international leader in those fields.”
 
“A medium sized university such as the UFS with relatively limited human, physical and financial resources has to achieve this kind of ‘critical mass’ and synergy to establish itself in terms of its core functions of teaching/learning, research and community engagement,” said Prof Fourie.
 
Media release
Issued by: Lacea Loader
Media Representative
Tel: 051 401 2584
Cell: 083 645 2454
20 February 2007

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