Small businesses founded by young people are making a significant contribution to improving Russias socioeconomic development and solving youth employment issues. They are also very nimble in responding to consumer demand. They are masterful at producing small-scale, unique products or providing specific services to individual market segments. Young people are very good at keeping their skills up to date. Their knowledge is not yet obsolete. They stand out due to their creative thinking and ability to adapt, which has a positive effect on the competitiveness of their businesses. What do we need to do to produce a new generation of entrepreneurs? How can young people be encouraged to become entrepreneurs? Is there a system of state support for young people who want to start a business? What does todays young entrepreneur look like?