In order for the country to be able to develop its economy successfully, it is necessary to actively think about how to support small and medium-sized enterprises, improve their competitiveness in the international market and promote the overall development and growth of the national economy. In order to start a business, young entrepreneurs face difficulties such as attracting funding to provide the necessary start-up resources, as well as a lack of knowledge capacity. In order to promote business development in Latvia, various support measures are offered to young entrepreneurs, which are financed by the state and European Union structural funds, as well as various private investors, investment funds and organizations.