Author(s): Olga Boris, Valentina Parakhina
Abstract: The relevance of the study of the youth business model is due to its significance in the entrepreneurial environment, since novice young entrepreneurs will determine the state of our economy in the future. Nevertheless, modernity poses many specific development problems for the younger generation, overcoming which is almost impossible without the support of experienced businessmen and the state. Targeted support for young people in the region will determine the possibilities of sustainable functioning and growth of small business, and this, in turn, will provide the basis for its economic development and increase its investment attractiveness. The purpose of the research presented in the article is to build an effective youth entrepreneurship model as a dynamic process in which a successful transition from one stage to another is ensured by a combination of competencies and favorable conditions provided at each stage by a certain set of forming and supporting structures. These structures play an important role in the formation and development of a young entrepreneur at certain stages of his life cycle, since their educational events, contests, information platforms increase the understanding of the possibility of using existing support methods and the confidence of young people in the correctness of the business choice made. The authors have identified the most active structures in Russia in the field of youth entrepreneurship support. Nevertheless, with all their activity, the activities of these structures are more focused on the allocation, support, training of young businessmen, which covers the first two or three stages of the dynamic process of youth entrepreneurship. As a result, youth organizations stop developing or fail. One of the reasons is the absence of a mentor, an adviser-consultant who can help to analyze the activities of the enterprise and suggest the direction of its development. It is established that the formation and development of youth business at many stages of its life cycle is influenced by business associations (associations of young and significant entrepreneurs for the realization of common goals).In such a way, the article highlights the most significant factors determining the sustainable development of youth business. Their integration is currently in in formative stage, and their isolated application does not always meet the interests of young entrepreneurs. Concerning the analyzed elements of support for the stages of youth enterprise formation are integrated into a matrix model that ensures the sustainability of the activities of talented young people who have connected their lives with the business sphere.
Keywords: youth entrepreneurship, business associations, model, life cycle stages, support structures, government support, mentoring
DOI: 10.37394/23207.2022.19.149WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 19, 2022, Art. #149