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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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FASSET students on South Campus urged to ‘position themselves for success’
2016-08-31

Description: FASSET prize-giving Tags: FASSET prize-giving

Boniswa Segoe with Tshegofatso Setilo at the FASSET
prize-giving. Boniswa received two separate accolades
on the day for her academic achievements.
Photo: Charl Devenish

On 12 August 2016, 125 FASSET-funded students on South Campus were rewarded for their first-semester efforts during a ceremony “to celebrate hard work, dedication, and excellence”, according to Lerato Sekonyela, who chaired the event. FASSET is the Finance and Accounting Services Sector Education and Training Authority. This sector is the largest employer of people with financial skills. “One of FASSET’s many objectives is to develop the competence of employees, resulting not only in an incredible level of training , but also in an improvement in the quality of life for many,” according to Tshegofatso Setilo, Manager: University Preparation Programme at the South Campus.

Jean Grundling,
Academic Head at South Campus, welcomed students, as well as the guests, tutors, and facilitators present, saying, “This is a milestone in your learning journey.” Quoting the words of Nelson Mandela, “A good head and good heart are always a formidable combination”, Grundling added, “Never stop learning, but also look at the compassion in your hearts.”

Tania Lee, projects director at FASSET, explained how funding is obtained from the financial sector. Ms Lee also expanded on the various projects FASSET is undertaking; from the lowest level, where schoolchildren are provided adequate career guidance, through TVET support by means of learnerships, to a full bursary scheme planned for next year.

Ms Lee advised: “Position yourself for success.” Using an analogy from an athletics event at the recent Rio Olympic Games, she exhorted students to take up a position like a runner in a relay race, poised and ready to sprint off after receiving the baton. She urged: “Aspire to become the heroes for our country.”

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