The sustainable development of Youth Entrepreneurship in the R. of Moldova, Ukraine and Latvia

Abstract

The Entrepreneurship is a determining factor for sustainable development for every national economy and Youth Entrepreneurship is especially important being most creative, risk taking and innovative. Youth, because of different education and specific features, are less conformist and more critical thinking oriented. They provide new ideas and solutions on the market, perspectives for better adjustment to challenges and opportunities. Purpose of research is to examine the perception of youth about what prevent starting a business in the R. of Moldova, Ukraine and Latvia, to provide comparative analysis and to define some solutions for sustainable development of entrepreneurship. A youth survey on perception of business environment in different countries was applied. The main findings of research were determined that the most important impediment for all examined countries are financial resources also was confirmed that in the case of youth from the Republic of Moldova and Ukraine the institutional-legislative, entrepreneurial and educational support factors are more important compared to young people in Latvia, and in Latvia personal factors are at least as important as institutional ones. The defined solutions in this paper can be used for sustainable development of Youth Entrepreneurship by governmental institutions, educational institutions, other pro-business NGO in different countries. JEL: L26, L53, O10, O19