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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

Linguistic resourcefulness impresses at 15th Student Symposium on the Natural Sciences
2015-11-26


UFS students walk away with more than half the prizes at this year’s Student Symposium on the Natural Sciences.

This year, the fifteenth annual Student Symposium on the Natural Sciences was hosted on the Bloemfontein Campus by the UFS Departments of Chemistry and Physics, together with the South African Academy for Science and Arts (SAAWK).

According to Dr Ernie Langner, Senior Lecturer in the Department of Chemistry, this symposium provides postgraduate students from all over South Africa the opportunity to present their research in Afrikaans, to learn from each other, receive feedback on their work through the review process, and to build networks. If their abstracts are selected for publication in the Suid-Afrikaanse Tydskrif vir Natuurwetenskap en Tegnologie, it also provides them with further exposure in the broader academic context.

Besides research of the highest quality, this year's symposium had no shortage of linguistic resourcefulness. “Students, accustomed to writing and expressing their research in English, astonished everybody with their beautiful Afrikaans. Outstanding research from honours, master's, and doctoral students was expressed in scientific terminology of the highest standard,” Dr Langner said.

The Student Symposium is the only event (worldwide) where the development of 'elektrostatiese potensiaalkaarte', 'femtosekonde pomp-proef spektroskopie', or 'endokrien-ontwrigtende chemikalieë' is explained step by step. This is where one hears enthusiastic students talking about how hard they are working on 'geïntegreerde drywende sonkragstelsels', or 'geneste virtuele rekenaars binne die wolkstelsel'. The results of hours of hard work in the lab, cold nights behind a telescope, or long midnight sessions in front of the computer, had to be condensed into 15-minute presentations on the synthesis of metal-organic networks, or metal-carbene complexes, the identification of pulsar rhythms, or the refining of rapid-eye technology.

Of approximately forty participants from five universities, eighteen were awarded prizes for their papers and posters. Students from the UFS walked away with more than half of the awards. Jacques Maritz (Physics) and his wife, Elizabeth, (Mathematics and Applied Mathematics) from the UFS were both awarded first place in their respective sessions.

 

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