In this paper student business activity is regarded as an extra-educational practice of human capital development of university youth. The results of motivation study of students for business and factors influencing on motivation formation are presented. Measures to sup- port student business activity implemented at the federal, regional, municipal and university levels are estimated. The possibilities and limitations of actual management approaches to the development of student business activity are defined. On the materials of the empirical research the problems of student business activity as educational community are shown