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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

“We have to be ashamed as South Africans in these xenophobic attacks” – Dr Khotso Mokhele
2015-04-17

In a show of solidarity, the staff, students, and graduates at the University of the Free State hosted various events to remember those victims of recent Xenophobia attacks in the country.

During the Autumn Graduation this week on the Bloemfontein Campus, a moment of silence was observed at the different ceremonies.

At the ceremonies, UFS Chancellor, Dr Khotso Mokhele, said these graduations are not only about the graduates’ success but also about keeping in mind those who are being killed in our own country because their countries could not uphold them.

“All of us as South Africans should show a displeasure at the xenophobic attacks that have taken place in the country. These acts are inhumane, and we have to be ashamed as South Africans.”

South Africa has been rocked these recent weeks by various flares of attacks on foreign nationals living in South Africa. Five people or more have died in these attacks.

The Institute for Reconciliation and Social Justice at the UFS also started hosting conversations to create awareness and understanding among the Kovsie community about xenophobia and the subsequent hate crimes.

In spite of diverging opinions, different approaches, and the complexities at the heart of the issue, everyone at these discussions agreed that xenophobia needs to be addressed urgently, not only by government, but also by every South African citizen.

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