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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

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Prof Luyt says young researchers should not allow circumstances to determine their future
2016-02-01

Description: Prof Riaan Luyt Tags: Prof Riaan Luyt

Prof Riaan Luyt, an NRF B-rated researcher
Photo: Supplied

Young researchers, who spend their life at a disadvantaged and rural campus like the University of the Free State’s Qwaqwa Campus, should not be deterred from achieving their dreams.

This is the view of Prof Riaan Luyt, former Assistant Dean in the Faculty of Natural and Agricultural Sciences, who achieved his B-rating by the National Research Foundation (NRF) late in 2015. This was by far the highest-ever rating on the Qwaqwa Campus.

“When I moved to the Qwaqwa Campus many years ago, having had the opportunity to do a post-doctoral fellowship in Polymer Science at the Leeds University in the United Kingdom, I was determined to get the Department of Chemistry off the ground, and to embark on serious research,” said Prof Luyt, who is now the Affiliated Professor in the Department of Chemistry and Research Associate Professor at the Centre for Advanced Materials, based at Qatar University.

“It was through sheer determination that I managed to obtain enough funds to equip a decent research laboratory. There were many obstacles over the years, but I managed to attract more and more postgraduate students and published more,” he said.

At first, Prof Luyt was not successful with his NRF-rating applications.

“My first couple of attempts to get rated produced no success. I was then awarded a C3-rating, which was later followed by C2 and then C1,” he added. “Getting a B-rating is the highlight of my research career. It shows that it can be done. Young researchers should not allow their past or present circumstances, or their work environment to stand on their way,” said Prof Luyt, who has supervised 38 master’s and doctoral students as well as 11 postdoctoral fellows. He has also published 185 papers in international and accredited journals.

Although abroad, Prof Luyt will continue to supervise eight postgraduate students at the Qwaqwa Campus.

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