The Mechanism of Infrastructure Support for Development of Small Youth Entrepreneurship

Abstract

The topic of the article is relevant in connection with rising unemployment among young people and an increase in the retirement age in Russia. As the methodological approach, the integrated approach is used, within which the methods of analysis, synthesis, historical and logical methods are applied. The empirical base of the research was the data of Rosstat (Federal Service of State Statistics), the SME Corporation, SME Bank, "OPORA RUSSIA", the Fund for Promoting Innovation. The article presents the results of the study of the problems of youth entrepreneurship, institutions and programs to support it are considered. Measures to eliminate the identified problems by attracting young people to business activities are proposed. The formation of a new support program "Acceleration of youth entrepreneurship" and the creation of focal points in the constituent entities of the Russian Federation "Regional Youth Center" are proposed. The mechanism of infrastructure support for small youth entrepreneurship is presented, including financial, information and consulting mechanisms, property tools, training and advanced training. The proposed model of the mechanism of infrastructure support for small youth entrepreneurship will increase entrepreneurial activity among young people and create new jobs. The presented model may be useful in developing a strategy for the development of small and medium-sized businesses in the region. 1. Introduction

The Youth Entrepreneurship as Response to the Youth Unemployment - Examples of Western Balkan Region

“…At the same time competences also have significant effect on starting a business (Passero et al, 2015). While entrepreneurial training claimed to be one of the most effective ways to disseminate knowledge and create entrepreneurs (Raj & Subbalakshmi, 2023), the lack of it is an obstacle for youth entrepreneurship according to several authors (Pauceanu et al, 2019;Rudenko & Goryachikh, 2020; and that training increase chances of choosing entrepreneurial career (Gorgievski et al, 2017;Ngoc Khuong & An, 2016;Pauceanu et al, 2019;Passaro et al, 2015). Some authors (Essel et al, 2020) claim that beyond personality and education entrepreneurial intentions are highly influenced by the environment.…”

“…The latter include time for company registration, period for issuing a licence or permit, protecting intellectual property rights, trademarks, etc. Another widely discussed obstacle for young people willing to start a business is securing funding, especially initial investments (Rudenko & Goryachikh, 2020). In many countries as youths do not have credit history or long-term assets, it is difficult for them to receive a bank loan (Sulejman, 2020).…”

Analysis of Policies and Strategies for Youth Entrepreneurship Development

“…The youth entrepreneurship infrastructure support mechanism model will increase entrepreneurial activities among young people. This infrastructure assistance mechanism will contribute to the involvement of young people in entrepreneurial activities, increase the number of youth projects, reveal the innovative potential of young people, increase the social responsibility of businesses, promote entrepreneurship, and create new jobs and youth entrepreneurs, which in turn will reduce social tensions in society (Rudenko and Goryachikh, 2020). In addition, a database on the potential of young entrepreneurs is required as a means of reducing unemployment, as well as a database on how to increase the number of workers as a result of the development of youth entrepreneurs.…”