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THE ROLE OF ENTREPRENEURSHIP IN THE ECONOMY: THE CASE
OF NAVOI REGION
Elov Olimdjon Komilovich
Navoi State University, " Geography and Basics
of Economic Knowledge." Lecturer
Baxtiyorova Guli
Navoi State University, 3rd-year student at "School Management.
E-mail: mr.olimdjon@gmail.com
https://doi.org/10.5281/zenodo.15574823
Abstract.
This study analyzes the role and significance of entrepreneurship
in the national economy. Entrepreneurship is the driving force of a market
economy, playing a crucial role in creating new jobs, introducing innovations,
and increasing societal welfare. The research examines the role of small and
medium-sized business entities in economic development, the government
support provided, and the growth rates of the private sector. Additionally, it
highlights opportunities for expanding the domestic market, enhancing export
potential, and addressing social issues through the development of
entrepreneurship.
Key words:
Entrepreneurship
,
Economy
,
Innovation
,
Jobs
/
Employment
,
Private sector
,
Market economy
,
Competitiveness
,
Tax revenues
,
Social stability
,
Economic growth
,
Government support
,
Regional development
Introduction.
The Role of Entrepreneurship in Sustainable Economic
Development under Modern Market Relations
. In the conditions of modern
market relations, the role of entrepreneurship in the sustainable development of
the economy is steadily increasing. The economic potential and competitiveness
of any country are directly related to the level of development of its
entrepreneurial environment. Entrepreneurship is important not only for
creating new products and services but also as a means to ensure employment,
implement innovative ideas, and increase the welfare of society. Therefore, this
article provides a comprehensive analysis of the role of entrepreneurship in the
economy, its main directions, and factors influencing its development.
The Role of Entrepreneurship in the Economy
. Today,
entrepreneurship is recognized worldwide as an important factor in the
sustainable development of market economies. Entrepreneurship is not just a
type of economic activity; it is a socio-economic force that introduces
innovations, creates jobs, and contributes to the progress of the country. In
Uzbekistan, too, the development of entrepreneurship is one of the priority
directions of state policy.
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Entrepreneurship — The Driving Force of Economic Development
.
Entrepreneurship plays a significant role in the economy in several ways. First, it
serves to fill the market by producing new products and providing services.
Second, entrepreneurship creates new jobs, which helps reduce unemployment.
Third, through the private sector, tax revenues to the state budget increase,
which in turn allows for the allocation of funds to social sectors.
Innovation and Competitiveness
. Entrepreneurs constantly strive to
seek innovations, increase efficiency, and implement innovative technologies.
This helps improve production processes and achieve international standards of
product quality. As the competitive environment intensifies, entrepreneurs are
forced to develop new approaches, which positively impacts overall economic
development.
Entrepreneurship and Social Stability
. Entrepreneurship also has
important social significance. Local entrepreneurs, by conducting their activities
in regions, districts, and villages, contribute to regional development. This leads
to improvements in infrastructure, increases in income, and the resolution of
social problems. Therefore, the development of entrepreneurship holds an
important place in the state’s social policy.
Entrepreneurship is considered the heart of the economy. It serves as the
basis for economic growth, social stability, and innovative development. In our
country, reforms aimed at supporting entrepreneurship are being carried out,
taking into account its invaluable role in the economy. In the future, systematic
work in this area will enable the formation of a sustainable and competitive
economy.
Today, entrepreneurship is recognized as the driving force of any
country’s economy. In countries based on a market economy, entrepreneurship
is not only a factor of economic development but also a key element of social
stability. Especially in an era of increased economic competition under
globalization, the role of entrepreneurship in achieving stability through
innovations, creating new jobs, and implementing modern management
methods is invaluable. Therefore, this article thoroughly discusses the role of
entrepreneurship in the economic system, its types, socio-economic impact, and
prospects for development.
1-table
The Role of Entrepreneurship in the Economy (Uzbekistan, as of 2024)
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Indicators
Nationwide
(Uzbekistan)
Navoi Region
Registered business entities
600,000+
25,000+
Share of SMEs in GDP
55.5%
48.3%
Share of population employed in
private sector
76%
70%
Share of tax revenue from private
sector
67%
61%
Share of SMEs in total exports
35%
22%
Number
of
subsidized
entrepreneurship
projects
(2023–2024)
35,000+
1,250+
Women-led business entities
28%
24%
Source: based on data from the Navoiy Regional Department of
Statistics
Entrepreneurial activity is widespread
. With over 600,000 registered
business entities across the country and more than 25,000 in the Navoiy region,
these figures reflect the high level of entrepreneurial activity both nationally and
regionally.
Significant contribution to GDP
. Small and medium-sized businesses
(SMEs) contribute 55.5% to the national GDP and 48.3% in the Navoiy region.
This highlights entrepreneurship as a key pillar of the economy.
A major factor in employment
. 76% of the employed population across
the country and 70% in the Navoiy region are engaged in entrepreneurial
entities, indicating the important role of entrepreneurship in ensuring social
stability.
Private sector plays a key role in tax revenue
. The private sector
accounts for 67% of annual tax revenues nationally and 61% in the Navoiy
region, confirming the private sector’s vital contribution to fiscal sustainability.
Export potential remains underdeveloped
.The share of small
businesses in total exports is relatively low — 35% nationally and only 22% in
Navoiy. This indicates the need to strengthen export capacity in the region.
State support is substantial
. Thousands of entrepreneurial projects have
received subsidies in recent years, reflecting the government’s commitment to
promoting private enterprise.
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Women’s entrepreneurship is growing
. The share of women-led
enterprises is increasing — 28% nationwide and 24% in the Navoiy region. This
is a positive sign toward achieving gender equality in entrepreneurship.
Conclusion.
In today's modern market economy, entrepreneurship plays a
steadily increasing role in ensuring sustainable economic development. It is not
only a driver of innovation and job creation but also a crucial mechanism for
improving social welfare and regional development. The entrepreneurial
environment of any country directly influences its economic potential and
competitiveness.
Entrepreneurship contributes to the economy by creating new products
and services, generating employment, increasing tax revenues, and enhancing
export potential. Furthermore, it drives technological modernization, increases
labor productivity, and supports energy efficiency through innovation.
In Uzbekistan, entrepreneurship is a priority area of state policy, and
continuous reforms are being implemented to support and promote this sector.
Entrepreneurs play a significant role not only in boosting economic activity but
also in addressing social challenges by fostering regional development,
especially in rural and remote areas.
Ultimately, entrepreneurship is the engine of economic growth, a pillar of social
stability, and the foundation of innovative development. Systematic efforts in
this direction will help build a competitive and sustainable national economy in
the future.
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