Youth entrepreneurship as a factor in solving socio-economic problems in the conditions of the coronavirus pandemic

Abstract

The development of youth entrepreneurship brings many benefits to the economy and society, which are especially important in the difficult conditions of various constraints and turbulent changes that the coronavirus pandemic has brought to all countries. The purpose of the article is to determine the advantages and limitations of youth entrepreneurship in the context of a pandemic, to highlight the most relevant areas of its development, provided by the emerging new opportunities of the modern socio-economic, scientific and technological environment. During the current crisis caused by the coronavirus pandemic, young people around the world are having difficulty finding jobs as young inexperienced workers tend to be the first to lose their jobs. The most tense situation is developing in regions that had a high level of youth unemployment before the crisis, such as the North Caucasian Federal District of Russia. At the same time, as the study showed, young entrepreneurs who have felt support from the state, relatives and friends, the business community, and financial structures are more successful. The directions' identification for the development of youth business made it possible to form a structural-logical model of entrepreneurial initiatives of young people, including forced and goal-oriented entrepreneurship. This scheme shows the importance of state and public support for youth business in overcoming the consequences of the COVID-19 spread, which, in turn, will lead to economic growth.