The role of the Instagram social network in youth business

Abstract

A good business idea very often remains unrealized due to financial, institutional or legislative barriers faced by the young people in developing countries, such as the Republic of Serbia. Unfortunately, the crisis created by the proclamation of the pandemic, which the world is facing, deepened the problems and further hampered the entrepreneurial energy of young business people. On the other hand, the difficult functioning and business in a crisis situation, pointed to new potentials of digital technologies and opened a window into the world of business with the help of social networking platform tools, primarily Instagram, which are more efficient but also significantly cheaper than traditional marketing methods. In the digital environment, with the help of visual communication, electronic word of mouth and adequate selection of credible influencers on social net-works, companies are able to communicate directly and indirectly with the target market and influence their attitudes towards brands and their purchasing decisions.