Lean startups with industry 4.0 technologies: Overcoming the challenges of youth entrepreneurship in Serbia

Abstract

Youth entrepreneurship is important for reducing youth unemployment rates and it overall contributes to economic growth. The main idea of this research is to determine the barriers and challenges that young entrepreneurs face in Serbia. The paper analyzes literature in this domain, and compares the status of youth entrepreneurship and entrepreneurship overall between Serbia, the EU and the US. Furthermore, a theoretical model is developed that includes the application of Industry 4.0 (I4.0) technologies and lean startup approach. The results indicate that taxation regulation and the lack of financial support for new startups are the main barriers that the young face in Serbia. In addition, the lack of adequate entrepreneurial education creates difficulties, and demotivates potential entrepreneurs. Therefore, it is necessary to introduce or modify existing regulatory laws and introduce effective financial support for new enterprises.

Preduzetništvo mladih je važno zbog smanjenja stope nezaposlenosti u ovoj populaciji i doprinosa ekonomskom rastu. Glavna ideja ovog istraživanja je određivanje barijera i izazova sa kojima se susreću mladi preduzetnici u Srbiji. Ovaj rad analizira literaturu u ovom domenu i upoređuje stanje preduzetništva kod mladih kao i preduzetništva uopšte u Srbiji, EU i Americi. U nastavku, razvijen je teorijski model koji uključuje primenu 'Indsutrija 4.0' tehnologije i 'lean startup' pristup. Rezultati istraživanja indikuju da su neadekvatno regulsianje poreza i nedostatak finansijske podrške za nove startup-ove glavne barijere sa kojima se mladi susreću u Srbiji. Dodatno, nedostatak adekvatnog preduzetničkog obrazoavanja stvara poteškoće i demotiviše potencijalne mlade preduzetnike. Samim tim, potrebno je uvesti ili modifikovati postojeće regulisanje poreza i uvesti efektivnu finansijsku prodšku novim preduzećima i preduzetnicima.