Main specific approaches to understanding the essence and economic role of youth entrepreneurship

Abstract

In the proposed article, the author analyzes the main scientific approaches of foreign and domestic researchers for a more complete understanding of the essence and economic role of youth entrepreneurship as an institution that allows using the creative potential of the younger generation in the interests of innovative development of the country. The author defines the concept of “youth entrepreneurship”, characterizes it as a tool that ensures the growth of employment, the involvement of young people in economic activity. In modern science and theory, youth entrepreneurship is considered as a new concept conditioned by a combination of factors and trends in the development of entrepreneurship and business in general, as well as employment of the population, including young people. The author, to a certain extent, clarified and deepened the theoretical foundations of the formation and development of youth entrepreneurship, established the relationship between youth entrepreneurship and economic growth trends. Within the framework of analytical research, the economic and organizational foundations of the mechanisms for supporting youth entrepreneurship are comprehensively systematized and analyzed. The author identifies at the system level the problems hindering the development of youth entrepreneurship and ways to solve them. The research results obtained by the author are reliable and applied, can be used in the practical activities of economic management bodies at macro and micro levels, in the implementation of industrial and innovation policy, as well as in policies for the development of small, medium and large enterprises.