YOUTH ENTREPRENEURIAL READINESS IN POST-SOCIALIST MACEDONIAN SOCIETY: THE ROLE OF KNOWLEDGE, SKILLS AND INSTITUTIONAL SUPPORT

Abstract

Entrepreneurship represents an important mechanism for creating new economic value, generating employment and fostering individual economic initiative, particularly among the young population. In post-socialist Macedonian society, however, young people’s interest in starting their own businesses does not always translate into actual entrepreneurial activity. The purpose of this paper is to examine the gap between entrepreneurial aspiration and entrepreneurial readiness among young people in Macedonia, with particular emphasis on access to practical knowledge, entrepreneurial skills, mentorship and institutional support. The study specifically examines young people in two age groups, 18–25 and 25–30, in order to identify potential differences in their entrepreneurial readiness, risk perception, self-efficacy and intention to start their own businesses. The central thesis is that insufficient entrepreneurial activity among young people should not primarily be explained by a lack of courage, ambition or entrepreneurial potential, but rather by inadequate practical preparation for operating within a free-market economy. The methodology is based on an analysis of relevant scientific literature, official statistical data, national strategic documents and reports issued by international organisations concerning youth entrepreneurship, employment and entrepreneurship education in Macedonia. Particular attention is devoted to the relationship between entrepreneurial knowledge, perceived risk, entrepreneurial self-efficacy and the intention to become self-employed or establish an independent business venture. The analysis indicates that insufficient practical knowledge concerning business idea development, market research, financial planning, access to finance, administrative procedures, marketing and risk management may create a sense of unpreparedness and constitute a significant barrier to entrepreneurial initiative. The paper additionally examines the influence of institutional and cultural patterns characteristic of the post-socialist transition, particularly with regard to perceptions of secure employment in comparison with self-employment and entrepreneurial risk. The conclusion is that policies aimed at promoting youth entrepreneurship should not be limited solely to financial grants and subsidies, but should also include a broadly accessible system of practical entrepreneurship training, mentorship and direct engagement with the real business sector. The objective is not for every young person to become an entrepreneur, but for every young person with a business idea to have a genuine opportunity to acquire the knowledge, skills and entrepreneurial self-confidence required to transform that idea into a sustainable business