Young People Terminal and Instrumental Values Impact on Youth Entrepreneurship

Modern, developed economies are highly dependent on innovation as source of growth. Entrepreneurship is crucial source of those innovations. At the same time it is possible to observe that developed economies struggle with falling levels of entrepreneurial activity conducted by young people. As there are astonishing examples of successful young entrepreneurs (especially in areas related to modern technologies), the unsatisfactory level of youth entrepreneurship leads to wasted potential of young people ideas and abilities. To better understand why young people in developed economies are more reluctant to take up entrepreneurial career it is necessary to properly identify reasons behind entrepreneurial activity of young people. Among many different factors individual culture represented by set of ones values provides interesting explanations regarding entrepreneurial intentions, perception of own capabilities and perception of entrepreneurship barriers. The aim of the study is to identify relations between young people values - understood as set of terminal values and instrumental values taken from Rokeach model, and set of factors related with youth entrepreneurship including entrepreneurial intentions, fear of failure and entrepreneurial barriers perception.