The Role of Education and Culture in the Development of Youth Entrepreneurship in European Union

European Commission in its Entrepreneurship 2020 Action Plan stress importance of entrepreneurship for economic growth, job creation and achieving objectives of EU2020 strategy. Many indicators show that level of entrepreneurial activity in European Union especially among youth is much lower than in China or USA. The article compares selected Global Entrepreneurship Monitor data with other sources of research in order to present level of entrepreneurship activities in European Union. Basing on revised GEM model and examining various analyses of entrepreneurship intentions among young people the study objective is to identify the role of education and culture in the development of youth entrepreneurship in European Union, as well as educational and cultural barriers for such development. Identifying educational and cultural obstacles that negatively influence entrepreneurship aspirations, attitudes and activities may become useful as a base to develop future solutions especially in areas of education and training on how to increase youth entrepreneurship in European Union. The article can be useful in developing model describing cultural and educational barriers depending on development level.