The entrepreneurial potential of Latvian students: the role of the university environment

An important prerequisite for the economic growth and improving the quality of life of the population is the growth of entrepreneurial activity. A special place here is occupied by student youth, who, during their studies, partially already receive the necessary knowledge, skills and experience in the field of entrepreneurship. However, there are certain factors in the academic environment hindering the growth of the entrepreneurial potential of students. The object of the study is a set of theoretical, methodological and practical issues aimed at further shaping of the entrepreneurial potential of students and its enhancement in terms of the academic environment having a significant role of in this process. The objective of the study is to examine theoretical foundations of the concept of entrepreneurial potential, to explore foreign experience in researching the entrepreneurial potential of students, to investigate the role of the university environment of higher education institutions in Latvia in the formation and enhancement of the entrepreneurial potential of students. In order to study the motivation and readiness of students to engage in entrepreneurship and the degree of their interest and need for business education for the commercialization of business ideas, a sociological questionnaire was elaborated and a sociological survey (2020) of students of Latvian universities was conducted. 402 students of different faculties were interviewed: social sciences, humanities, information technology, music and art, mathematics. The authors use various methods including the axiomatic one, analysis and synthesis, monographic method, sociological survey, statistical analysis of quantitative data from a questionnaire survey. As a result of the work done, the parameters of the real and potential engagement of Latvian students in entrepreneurial activity, the main obstacles to expanding the scale of student entrepreneurial activities were determined, the activities implemented in the academic environment and stimulating interest in entrepreneurship and real engagement of students in this activity were proposed. Our analysis of the entrepreneurial potential of Latvian students is extremely important in the study and development of entrepreneurship both nationwide and at the level of individual higher education institutions. The results obtained make it possible to assess the situation and take measures towards creating a more favourable learning environment for the development and implementation of students’ entrepreneurial intentions.