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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

2015 Spring Graduation Ceremony rekindles spirit of Ubuntu
2015-09-22

 

Our graduates: A new generation of future leaders
to advance South Africa

 -  Video: Spring Graduation Ceremony

“Give away your love, attention, care and more.” These words of Prof Jonathan Jansen, Vice-Chancellor and Rector of the University of the Free State (UFS), capture the spirit of the 2015 Spring Graduation Ceremony that took place on Thursday 17 September 2015.

On this special day, 599 diplomas and degrees were conferred from the faculties of the Humanities, Education, Law, Theology, Economic and Management -, Health -, and Natural and Agricultural Sciences. Central to both the morning and afternoon ceremonies was the message of Ubuntu.

The essence of humanity

“Here is my advice to you,” Prof Jansen said to the graduates, “whatever you have, give it away. Give away your love, attention, care and more.” Prof Jeffrey Sachs, guest speaker at both events, supported this message by saying that the essence of humanity is the cornerstone to success. Prof Sachs, a prominent American economist and humanitarian, asked graduates to use their hard-earned knowledge wisely, fairly and boldly. “You are the wealth of South Africa, for your knowledge is the key to SA’s prosperity.”

The UFS Faculty of Economic and Management Sciences honoured Prof Sachs by conferring an honorary doctorate on him. With this prestigious conferral, the faculty acknowledges Prof Sach’s extensive work in sustainable economic, social and political development across the globe. Dr Khotso Mokhele, Chancellor of the UFS, commended Prof Sachs for his compassion and passion for humanity. “I’m truly inspired that you agreed to associate yourself with this institution. We are proud to be associated with your excellence,” Dr Mokhele said.

Celebrating the extraordinary

One of many highlights of the day was when Leanne Kunz and Karabo Motlhakoana walked across the stage to respectively receive their Postgraduate Diploma in Business Administration and a BSc degree in Information Technology.

Kunz has been compiling news bulletins for The Breakfast Special show, aired on the OFM radio station, for five years. This Kovsie Alumnus graduated with a Media Studies degree a few years ago. Kunz did not allow her successful career at the popular radio station to hinder her studying further, though. Neither has Motlhakoana’s physical challenges.

While everyone else used their hands to take notes, Motlhakoana used his foot. Despite being born with no arms, he was able to beat the odds by qualifying as a computer scientist. Motlhakoana was also involved in the Leadership for Change programme in 2011 which contributed to producing the well-rounded graduate he is today. When walking across the stage, “I felt like I achieved something that gave me a challenge,” he said.

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