Volume 04 Issue 07-2024
28
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
07
P
AGES
:
28-33
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
ABSTRACT
The article " Features of the development of small business and private entrepreneurship in the regions of the
Republic of Uzbekistan" explores important aspects of the development of small business. The historical stages of
development, peculiarities and challenges faced by small enterprises in various parts of the country are discussed. The
impact of the state support policy on small businesses is analyzed and examples of successful practices from various
regions are given. In conclusion, conclusions are drawn about the importance of small business for the economic
development of Uzbekistan and recommendations are offered to improve the situation of small enterprises in the
regions of the country.
KEYWORDS
Small business, private entrepreneurship, regional development, economic features, government support, socio-
cultural factors, economic factors, successful practices, challenges and problems, development prospects.
INTRODUCTION
In recent years, the Government of Uzbekistan has
been implementing reforms aimed at liberalizing the
economy,
attracting
foreign
investment
and
developing the private sector. These efforts are
Research Article
DEVELOPMENT OF SMALL BUSINESS IN THE REGIONS OF UZBEKISTAN:
FEATURES AND TRENDS
Submission Date:
July 15, 2024,
Accepted Date:
July 20, 2024,
Published Date:
July 25, 2024
Crossref doi:
https://doi.org/10.37547/ijmef/Volume04Issue07-04
Popova Nigina Aleksandrovna
Department "Management", Fergana Polytechnic Institute, Fergana, Republic Of Uzbekistan
Rustamova Maxfuza Maxmudovna
Scientific Supervisor Department "Management", Fergana Polytechnic Institute, Fergana, Republic Of
Uzbekistan
Journal
Website:
https://theusajournals.
com/index.php/ijmef
Copyright:
Original
content from this work
may be used under the
terms of the creative
commons
attributes
4.0 licence.
Volume 04 Issue 07-2024
29
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
07
P
AGES
:
28-33
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
accompanied by sustained economic growth and an
improved investment climate.
Small business and private entrepreneurship play a key
role in the economic development of Uzbekistan. This
sector of the economy contributes to increasing
employment, stimulates innovation, and promotes the
expansion of production and markets for goods and
services. In addition, the development of small
businesses contributes to reducing poverty, improving
the standard of living of the population and the
formation of a stable and diversified economy.
It is important to note that small business is the basis
for creating new jobs and integrating local
communities into the economic process. Therefore,
state support and stimulation of small business
development are of strategic importance for the
economic development of Uzbekistan as a whole.
The purpose of the article "Peculiarities of the
development of small business and private
entrepreneurship in the regions of the Republic of
Uzbekistan" is to analyze and discuss specific factors
affecting the development of small business in various
regions of Uzbekistan, to identify factors contributing
to or hindering the development of small business in
the regions of Uzbekistan, as well as to offer practical
recommendations
for
creating
a
favorable
environment for development small business in the
country.
MAIN PART
In the light of Uzbekistan's Strategy for 2030, small
business and private entrepreneurship are becoming
key factors determining economic development and
the creation of a sustainable economy in the country.
These sectors are not only the engine of economic
growth,
but
also
contribute
to
improving
competitiveness, innovation and social stability.
One of the main principles of Uzbekistan's Strategy for
2030 is the creation of a modern, innovative and
diversified economy. In this context, small business
plays an important role as the main source of
innovation and innovation. Entrepreneurial ideas and
startups are becoming the driving force behind the
development of new technologies, services and
products, contributing to economic growth and
improving its competitiveness on the global stage.
Moreover, small business is the main source of job
creation in the economy of Uzbekistan. According to
the National Statistical Committee, in recent years,
small and medium-sized enterprises have provided up
to 70% of the total number of jobs in the country. This
highlights the importance of small businesses in
solving social problems such as poverty and
unemployment and ensuring stability in society.
However, despite the important role of small
businesses, this sector also faces a number of
challenges and obstacles. One of the key challenges is
limited access to finance and loans for small
businesses. In this context, the implementation of the
Strategy of Uzbekistan for 2030 involves the
Volume 04 Issue 07-2024
30
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
07
P
AGES
:
28-33
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
development and implementation of financing support
mechanisms for small and medium-sized enterprises,
including government support programs, the
development of alternative sources of financing and
improvement of the investment climate in the country.
Another important aspect is the development of
infrastructure and improvement of the business
environment for small businesses. This includes
creating a favorable legal environment, simplifying
administrative procedures, reducing bureaucratic
barriers and increasing the availability of high-quality
support services for entrepreneurs.
Thus, small business and private entrepreneurship play
an important role in the economic development of
Uzbekistan in the context of its strategy for 2030. The
implementation of the strategy involves creating a
favorable environment for the development of
entrepreneurship, ensuring access to finance and
investment, as well as supporting innovation and
competitiveness of the small business sector. This will
allow the country to achieve sustainable and long-term
economic growth, improve the quality of life of citizens
and strengthen its position on the world stage. Small
business is an important engine of Uzbekistan's
economic development in various regions of the
country. In each region, small enterprises perform a
number of functions that contribute not only to
economic growth, but also to the social well-being of
local communities.
In rural areas, small farms and craft workshops play a
key role in maintaining agricultural production and
preserving traditional crafts. In urban areas, small
businesses such as shops, restaurants, repair and
construction services provide access to goods and
services, create jobs and form social infrastructure.
The development of small businesses in the regions of
Uzbekistan depends on a number of factors. One of
the key issues is access to finance and loans. In some
remote areas, access to financial resources may be
limited, which makes it difficult to develop
entrepreneurship. In addition, infrastructure, the
quality of education, the availability of qualified
personnel and the availability of sales markets also
have an impact on the development of small
businesses. The benefits for small business
development in the regions include lower rental and
labor costs, as well as higher demand for local goods
and services. In addition, there is often less
competition in the regions, which can contribute to the
successful start of a new business. However, there are
also limitations, such as limited access to qualified
personnel, insufficient infrastructure and transport
network, as well as limited markets for some goods
and services. These factors can make it difficult for
small businesses to develop in the regions and require
additional government support and investment.
Small businesses in the regions of Uzbekistan face a
number of challenges that hinder their development
and growth. One of the main challenges is limited
Volume 04 Issue 07-2024
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International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
07
P
AGES
:
28-33
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
access to financial resources and loans. In remote areas
of the country, banking services may be unavailable or
insufficiently accessible to entrepreneurs, which
makes it difficult to expand business and invest in new
projects.
Another challenge is the shortage of qualified
personnel. In some regions of Uzbekistan, it may be
difficult to find workers with the necessary skills and
knowledge, which limits business development
opportunities. In addition, the lack of developed
infrastructure, limited access to sales markets and high
administrative barriers are also challenges faced by
entrepreneurs in the regions of Uzbekistan. Despite
the challenges, small businesses in the regions of
Uzbekistan have development prospects that are
related to global trends and changes in the global
economy. One of these prospects is the growth of
digitalization and the development of online business.
In the modern world, digital technologies open up new
opportunities for small businesses, allowing them to
expand sales markets and improve the efficiency of
business processes.
There is also potential for the development of small
businesses in the sector of environmentally friendly
technologies and products. With increasing awareness
of environmental issues and sustainable development,
the demand for environmentally friendly goods and
services is growing, which creates new opportunities
for small businesses.
Scientific
and
theoretical
proposal
and
recommendations.
To improve the situation of small businesses in the
regions of Uzbekistan, it is necessary to take a number
of
measures
and
implement
the
following
recommendations:
- development of financial infrastructure and
expansion of entrepreneurs' access to financial
resources and loans.
- professional development of the workforce through
educational programs and training courses.
- improvement of infrastructure, including transport
and communications, to facilitate business.
The implementation of these measures will help create
a more favorable environment for the development of
small businesses in the regions of Uzbekistan and
contribute to the sustainable economic development
of the country. In the modern economy of Uzbekistan,
the development of small businesses in the regions
plays a key role in the sustainable economic growth
and social development of the country. Despite the
diverse challenges faced by entrepreneurs, there are
certain prospects and resources that can be used to
achieve success in this area.
Regional
initiatives,
successful
practices
and
government support play an important role in
stimulating the development of small businesses. The
experience of entrepreneurs adapting to changing
market conditions is also a valuable source of lessons
and inspiration.
Volume 04 Issue 07-2024
32
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
07
P
AGES
:
28-33
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
Supporting small businesses in the country's regions
will help ensure a more even distribution of economic
growth and promote the integration of remote and
low-income areas into the economic process. This, in
turn, helps to reduce social and economic inequalities
and create conditions for sustainable development
throughout the country.
The development of small business and private
entrepreneurship in the regions of the Republic of
Uzbekistan plays a key role in the implementation of
national strategic goals set out in the Strategy of
Uzbekistan 2030. This strategy, focused on creating a
modern, innovative and diversified economy,
recognizes the importance of small business
development as one of the pillars of sustainable
economic growth. In general, the development of
small businesses is a necessary and important element
of Uzbekistan's economic development strategy,
which requires constant attention and support from
the government, the business community and society
as a whole.
In the 2030 strategy, special attention is paid to the
development of the regional economy, which
emphasizes the importance of supporting and
stimulating small businesses at the local level. Regional
economic diversification and the creation of equal
opportunities for entrepreneurs in different regions
are becoming key objectives within the framework of
the strategy.
One of the priorities of the strategy is to improve the
investment climate and provide access to financial
resources for small businesses. This includes the
creation of specialized financial instruments, the
promotion of the development of local financial
markets and the improvement of state support
mechanisms for entrepreneurs. In addition, the 2030
Strategy emphasizes the importance of human capital
development through education, training and support
for innovation. This creates favorable conditions for
the growth of small businesses based on knowledge
and innovation.
CONCLUSION
In conclusion, the development of small business and
private entrepreneurship in the regions of Uzbekistan
directly corresponds to the country's strategic
priorities on the way to achieving sustainable
economic growth and improving the quality of life of
citizens. The implementation of the provisions of the
Strategy of Uzbekistan 2030 requires joint efforts of
the government, the business community and society
as a whole to create a favorable environment for the
development of small businesses in all regions of the
country.
REFERENCES
1.
Decree of the President of the Republic of
Uzbekistan "On measures to further improve
the system of support for small businesses and
private entrepreneurship" dated February 27,
2020 No RP -5953
Volume 04 Issue 07-2024
33
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
07
P
AGES
:
28-33
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
2.
"The main directions for further improvement
of the support system for small business and
private entrepreneurship in Uzbekistan" - a
study conducted by the Ministry of Economy
and Industry of the Republic of Uzbekistan
3.
"Support for small and medium-sized
enterprises:
foreign
experience
and
opportunities for its adaptation in Uzbekistan"
- a study prepared by the Center for
International Development Studies
