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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

Rag spreads the spirit of Ubuntu in Dinaweng informal settlement
2015-08-25

 

The Rag Committee teamed up with Prowess to create the first pop-up Street Store in Bloemfontein, as part of the Ubuntu Community Store Project. On 22 August 2015, the residents of Dinaweng had the opportunity to get hold of new and second-hand clothing free of charge. Soup and bread were also served to the children and the elders of the area, which is all too familiar to the media for its high unemployment, crime, and prostitution rates.

How do clothes represent Ubuntu?

From Tubatsi Moloi’s perspective, this is the team’s way of demonstrating that Ubuntu does not exist merely as a philosophy. The Rag Committee shows compassion to communities that lack resources essential to leading a dignified life.

“Ubuntu basically means uniting with the community by giving back and also thinking for those who are in need,” says the RAG Committee Executive.

Prowess, a Non-Profit Organisation (NPO) run by Kovsie students, initiated the concept which targets homeless and needy individuals unable to purchase clothing. Students from all 26 Kovsie residences and personnel have since supported the initiative by donating to the inaugural Street Store through representatives of Rag in residences.

The Street Store will continue to empower impoverished communities within the Mangaung Metro, and champion these human projects in collaboration with external stakeholders.
“We will also be working with Twee-Toring Church, although it has not yet been confirmed when we will pay them a visit,” said Tubatsi.

Providing basic needs such as clothing has the power to reinstate the dignity of people. Rag and Prowess have taken it upon themselves to practice the ideals of Ubuntu in an attempt to ensure that the less fortunate lead dignified lives.

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