National Interests: Priorities and Security
 

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Analyzing opportunities of the region's economy for the youth entrepreneurship development

Vol. 16, Iss. 2, FEBRUARY 2020

Received: 25 November 2019

Received in revised form: 12 December 2019

Accepted: 30 December 2019

Available online: 14 February 2020

Subject Heading: SUSTAINABLE DEVELOPMENT OF ECONOMY

JEL Classification: F41, F43, J23, M13, M20

Pages: 277–294

https://doi.org/10.24891/ni.16.2.277

Smirnov V.V. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Zakharova A.N. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
zaharova_an@mail.ru

https://orcid.org/0000-0002-6111-7654

Dulina G.S. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
dulina.g@yandex.ru

https://orcid.org/0000-0001-6324-6604

Subject The study discusses the youth entrepreneurship in the region.
Objectives The study forges unique forms of new knowledge as the young people and their role as human resources are revised, being employed in production, distribution, exchange and consumption of benefits.
Methods The study is based on the systems approach and methods of descriptive statistics.
Results The youth entrepreneurship is found to play an increasing role in the new global economic system, being a special group in terms of unemployment and poverty of the employed. There is a predominance of intentional activities in countries with the low and medium levels of income to stimulate the self-employed and entrepreneurship, while the countries with the high level of income just assist in creating jobs and job placement. The specifics of the Russian economy shifts the priority development trajectory to entrepreneurship, focusing the responsibility for the life quality on people. Due to capabilities of the Chuvash Republic's economy and regulatory documents governing entrepreneurship and Strategy for the Socio-Economic Development, the young businessmen prevail in sectors of industrial export, developing a special form of intermediation as part of the import substitution policy.
Conclusions and Relevance As the constituent entities of the Russian Federation have different economic capabilities, the difference stimulates the youth entrepreneurship. The diminished functionality of the Chuvash economy is based on a special discourse which is devoted to the region’s foreign trade and understood as a priority in the Federal law on strategic planning.

Keywords: foreign trade, youth entrepreneurship, strategic planning, regional economy

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