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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

UFS Vice-Chancellor’s vision for 2016: R100 million before September
2016-03-03

Description: Official opening 2016 Tags: Official opening 2016

At the official opening of the University of the Free State (UFS), held on 19 February 2016 on the Bloemfontein Campus, Prof Jonathan Jansen, Vice Chancellor and Rector, announced that his priority for the year is to raise R100 million. Deserving students who cannot afford to study will receive bursaries through the Student Bursary Fund Campaign.

Staff will also have the opportunity to contribute to the fund.

Prof Jansen thanked staff for their hard work in the midst of what he described as “by far the most difficult year for admissions, registration, accommodation, and student finance”. The heightened expectations of students after FeesMustFall and the limited capacity of the university to meet the desires of students took its toll on staff.

Because of the incredible strain taken by staff members, both emotionally and physically, the Vice-Chancellor gave staff the assurance that they will receive spiritual, emotional, and health support.

“Never before have I seen such dedication from all our staff to hold the university together in these trying times,” Prof Jansen said.

“Because of you, we have a record intake of first-year students into the UFS. We have had about 5 000 students on average in the past three years and, as of today, we are nearing 7000 first-years with the strong possibility that we will enroll several thousand more students, once the new South Campus registrations come on line later this year. By mid-2016, we will exceed our own target of 8 000 students,” said Prof Jansen.

He stipulated that it is not only good for the finances of the university but also for the youth of the country who can access a quality university in central South Africa where the safety of its staff and students is a priority.

Another highlight at this event was announcing Dr Christian Williams from the Department of Anthropology as the winner of the 2016 Distinguished Scholar Book Prize for his book, National liberation in postcolonial southern Africa: a historical ethnography of SWAPO’s exile camps.

Amidst the sad episodes of violence and destruction on campuses around South Africa, Prof Jansen highlighted how the UFS will – through a seven-point approach - manage the university during these difficult times:
1.    Doing everything within our capacity to meet the needs of staff and students
2.    Upholding the right to peaceful protest in our democracy
3.    Acting swiftly against any unlawful actions by students or workers
4.    Upholding the authority of the unions (only UVPERSU and NEHAWU)
5.    Finding humane and just solutions to the problem of outsourcing
6.    Not placing the UFS at financial risk by making irresponsible decisions
7.    Maintaining an open door policy.

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