BRANDING TERRITORY AS A TOOL TO STIMULATE YOUTH ENTREPRENEURSHIP

Abstract

The article substantiates the areas in which the territory branding promotes the development of youth entrepreneurship and its socio-economic functions implementation. The concept of "territory branding" has been clarified and expanded, taking into account the aspect of mutual influence and interaction of these tools with the phenomenon and processes of youth entrepreneurship according to the compliance of economic and social interests of stakeholders. The main directions of the region positive image and reputation forming are identified. Each of them is analyzed referring to the experience of the youth entrepreneurship stimulation innovative tools. It was figured out that the branding strategy allows to carry out the following tasks: forming young people self-identification with the territory of residence and as a result – constructing a stable positive regional identity and motivation to do regional-oriented business; orientation of residents to local problems solving and increase their participation in the social and political life of the community; attracting new investors to the region; promotion of the local products (produced on the territory of the agent); the tourist flows’ increase; drawing the attention of the authorities and supranational structures to the opportunities and threats of the region in terms of strategic partnership in programs and projects calls; promotion of the region attractiveness to potential migrants, especially to highly qualified professionals of working age and youth. The importance of territorial branding for young entrepreneurs is difficult to overestimate, because even with the most favorable economic conditions and the availability of highly qualified management staff, young people as a business entity are more vulnerable than other age groups for a number of reasons. The implementation of the above tasks will result in: the development of an effective information infrastructure; ensuring a competitive market environment and strengthening the competitiveness of young entrepreneurs at the interregional and international levels; raising the level of technical and innovation-technological support of enterprises; creating attractive conditions for investing and intensifying the activities of credit institutions, in general – improving access to financial resources; creation of conditions for restructuring of economically weak business entities; improving the organizational structure, forms and content of marketing at the level of the region and companies; development and implementation of social programs in the region to improve the quality of life.