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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

Young dynamic lawyer in the Mail and Guardian Top 200
2016-06-27

Description: Adv Loyiso Top 200 M and G Tags: Adv Loyiso Top 200 M and G

Adv Loyiso Makapela
Photo: Stephen Collett

Each year the Mail and Guardian produces a special report on that year’s top 200 young South Africans who inspire, have talent, and drive. This year, we celebrate one of our own, Adv Loyiso Makapela, who has been nominated as one of the top 200 Mail and Guardian Young Achievers of 2016 under the category of Education. Loyiso is an outstanding academic, lecturer and mentor. At age 27, she is the youngest lecturer in the Faculty of Law.

With two Master’s degrees under her belt, she has been awarded the Desmond Tutu Doctoral scholarship by the National Research Foundation and will commence her PhD at both the University of Stellenbosch and Vrije Universiteit in Amsterdam July 2016. With a keen focus on research, she has presented papers and chaired sessions at various conferences locally and internationally in, for example, the United Arab Emirates and Greece, and in Oxford, England.

“The fact that I was nominated under the category ‘Education’ is undoubtedly one of my proudest achievements to date, because there is nothing I am more passionate about and love than the education of young South Africans, particularly women. This is only the beginning, and I hope my story and accomplishments will inspire others to walk out in determined pursuit of their goals and dreams,” said Loyiso.
She is in the final stages of launching a lifestyle website that aims to engage young and ambitious South African women, titled “Young Women of Power”. Through this platform, Loyiso hopes to bring together influential women in business and politics, to empower and enlighten younger women.

The Mail and Guardian Top 200 Young South Africans have, over the years, positioned themselves as leaders in their fields and gained local and international acclaim. The selected 200 will be announced later this month.



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