EIJMRMS ISSN: 2750-8587
VOLUME04 ISSUE10
59
THE ROLE OF COMMERCIAL BANKS IN FINANCIAL SUPPORT OF BUSINESS ACTIVITY
Aliyev Matkarim
Graduate student of the Academy of Banking and Finance, Uzbekistan
AB O U T ART I CL E
Key words:
Entrepreneurship; Economy;
Entrepreneurship; Efficiency.
Received:
10.10.2024
Accepted
: 15.10.2024
Published
: 20.10.2024
Abstract:
This article examines the main
directions of entrepreneurship support in the new
Uzbekistan. After the political and economic
reforms
initiated
by
President
Shavkat
Mirziyoyev, there have been serious changes in
the business environment in Uzbekistan. The
article discusses the main strategies and policies
implemented by the government to develop
entrepreneurship and attract investments in
various sectors. It emphasized the importance of
creating a favorable business environment,
reducing bureaucratic obstacles, and providing
financial support to entrepreneurs. In addition, it
examines the role of technological innovation,
education and skills development in promoting
entrepreneurship. At the end of the article, special
attention is paid to the problems and
opportunities that may arise for entrepreneurs in
the developing landscape of the economy of
Uzbekistan.
INTRODUCTION
The emergence of new Uzbekistan as a result of political and economic reforms created many
opportunities for entrepreneurship. Entrepreneurship has gained attention as a catalyst for economic
growth and job creation, as the focus on private sector development has grown. This article aims to
highlight the main directions of entrepreneurship support in the developing landscape. In recent years,
various measures are being implemented in Uzbekistan to promote entrepreneurship. Financial
assistance programs have been introduced to ensure access to capital and investment opportunities for
startups. Infrastructure development initiatives have improved communication between city centers
and created favorable conditions for business activities. In addition, policy reforms aim to reduce
VOLUME04 ISSUE10
https://doi.org/10.55640/eijmrms-04-10-10
Pages: 59-62
EUROPEAN INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH
AND MANAGEMENT STUDIES
ISSN: 2750-8587
VOLUME04 ISSUE10
60
bureaucratic hurdles, simplify regulatory procedures and increase transparency. Despite these
advances, entrepreneurs still face challenges that hinder their growth potential. Limited access to
finance remains a significant barrier for many start-ups, particularly those operating outside of major
cities or in high-risk sectors. In addition, bureaucratic red tape continues to burden entrepreneurs
seeking licenses or permits for their businesses. To effectively address these challenges, policymakers
need to prioritize key areas such as improving access to finance through innovative financial
instruments tailored to meet the needs of entrepreneurs operating in different sectors in different
regions. In addition, efforts should be made to simplify administrative processes through digitization
and automation while ensuring transparency and accountability. By studying the main directions of
entrepreneurship support in the new era of Uzbekistan, this article aims to inform politicians and
interested parties about the current state of entrepreneurship and make recommendations on further
formation of a favorable environment for entrepreneurship. The potential benefits of supporting a
vibrant entrepreneurial ecosystem include job creation, economic diversification and increased global
competitiveness. Therefore, it is important to ensure that entrepreneurs receive adequate support to
thrive and contribute to Uzbekistan's overall development goals.
A credit relationship is created only if the lender is interested in lending funds, and the borrower is
interested in receiving these funds. The matching of interests by the participants of credit relations
ensures the conclusion of credit agreements. In the development of credit relations, it is necessary for
banks to carry out lending processes based on the main characteristics of credit and important
conditions and laws in their operation.
The bank plays the role of a financial intermediary in organizing the lending process. It attracts idle
funds and makes them temporarily available to clients on its own behalf. At the expense of bank loans,
important industries, agriculture, trade, etc. Are financed and become the basis for expansion of
production.
Th
e concept of “credit mechanism” is also found in credit relations. The views of scientists about the
“credit mechanism” are actions aimed at researching this concept and its development. In the work of
a number of scientists, economic categories are considered in an integral relationship
. “Analyzing in
detail, proving that the basis of these two categories is the same, that both of them are based on
monetary relations, he comes to the conclusion that in practice it is correct to call this mechanism a
fina
ncial and credit mechanism.”
EUROPEAN INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH
AND MANAGEMENT STUDIES
ISSN: 2750-8587
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Classical economists associated the “credit mechanism” with specific methods of organizing credit
relations, and the use of these methods in the practice of the form of sharing, taking into account the
circulation of money and the organization of credit relations
, is considered as “credit mechanism”
credit. For example, AA . Azlarova and MMA Abdurakhmanova wrote about the credit mechanism
: “The
credit mechanism consists of a complex of credit system bodies, lending tools and methods, and
principles, with the help of which relevant bodies carry out their tasks and influence the entire national
economy and the economic activity of enterprises. It is considered as one of the economic levers (tools)
of the economic mechanism. the principles of prosperity require the rational and optimal development
of the economic mechanism”.
CONCLUSION
In conclusion, the main directions of entrepreneurship support in the conditions of new Uzbekistan are
of decisive importance in the development of the entrepreneurship ecosystem. By creating a favorable
business environment, encouraging the adoption of innovation and technology, providing access to
financial resources and training opportunities, and focusing on the implementation of effective policies
and regulations, Uzbekistan will unleash the creativity and dynamism of its aspiring entrepreneurs. has
the potential to give. With the combined efforts of the government and the private sector,
entrepreneurship can become a powerful driving force for economic growth, job creation and social
development in the country. As Uzbekistan continues on the path of economic reform and
modernization, it is necessary to give priority to supporting entrepreneurship as a means of fully
opening entrepreneurial talents.
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