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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

SRC Arts and Culture speaks up
2015-03-17

"Stagedoor was an absolute success," says fourth-year medical student, Stefan van der Westhuizen and SRC member for arts and culture.  

 

"I've always been a diverse person and exposed myself to many things."

 

Raised in Vanderbijlpark near Johannesburg, Stefan has always had a passion for arts and culture.

 

"It's a platform where students express so much. Stagedoor is where you can see students express their commentary on what is happening on campus and feel like it’s almost a safe zone."

 

Stefan’s year on the SRC brought about a new format to rotations. Residences paired with each other, while the new 'outdoor' interactions made it possible for residence and off-campus students to interact with rotations.

 

"I was most proud of the rotations that took place even at the Agricultural Building. There was some great interaction," he said.

 

Stefan said the idea was to fix things.

 

“Not much had changed with Stagedoor when I got into office, even ticket sales were decreasing. I wanted to get students amped about it again."

 

A different element of Stagedoor 'outdoor' was to try to get spontaneity, and to try to get away from residences doing the same plays, but get them out of their comfort spot.

 

“When we heard the results, we lit up with excitement because we didn't have the usual winners,” Stefan said.

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