Classification of success factors of youth entrepreneurship project

Abstract

The success of the development of youth initiatives in the field of starting and implementing entrepreneurial activities depends on various reasons and factors. In the process of introducing a business idea and establishing a new young company and its development, a young entrepreneur is surrounded by people, companies of different spheres of activity and ownership rights, financial and credit organisations, state bodies. In the article on the basis of studying the influence of various factors on the positive result of entrepreneurial initiatives of young people and support of their undertakings the qualification of factors is carried out in the following categories: young entrepreneur, state, business environment, business knowledge, educational organisations and financial sector. The paper applies a graphical method of analysing a number of interrelated factors or causes that influence the success of the project. A cause and effect diagram of successful youth entrepreneurship in the initial stages and subsequent stages of its implementation is constructed. However, the important or significant factors depend on the sector of the economy in which the young entrepreneur wishes to start a business. But common to all entrepreneurial projects is the knowledge that a young entrepreneur must possess. Knowledge of laws, field of activity, industry and the ability to apply project management tools and techniques. That is why a separate group "business knowledge" was singled out, despite the fact that some knowledge points are also present in the categories "Young entrepreneur" and "Educational organisations".