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

Abstract

Purpose: The article aims to identify to what extent the youth entrepreneurship can be a response to the youth unemployment. Theoretical framework: Based on the reviewed research the main areas of interest in the countries under review would be entrepreneurial environment, entrepreneurial training opportunities, available financial instruments, and other types of support for young entrepreneurs. Design/methodology/approach: The study is based on comparative analysis of eight Balkan countries – Albania, Bosnia and Herzegovina, Bulgaria, Italy, Montenegro, North Macedonia, Romania, Serbia. Statistical information from Eurostat, World Bank and Global Entrepreneurship Monitor and essays conducted by different national institutions are also considered in the article. Findings: The potential and capacity of entrepreneurship can contribute to tackling unemployment and bettering the innovation ecosystem. Youth entrepreneurship is facing number of challenges (lack of experience and practice, difficult transition between education and labour market) which reaffirms that entrepreneurial is not easy a career. Research, Practical & Social implications: Entrepreneurship is one of the unique tools for dealing with youth unemployment. It is supported by a series of national and international initiatives, which are either complementary or independent, with a clearly expressed intervention effect. Entrepreneurship creates a new mileu for steady ecoinovation system and respectively job opportunities. Originality/value: The value of the research lies in the findings of entrepreneurial environment of the countries studied; based on comparative analysis; ascertaining niches for regional cooperation in solving the problems of youth unemployment.