Volume 02 Issue 07-2022
15
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
02
I
SSUE
07
Pages:
15
-19
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)
(2022:
5.
705
)
OCLC
–
1121105677
METADATA
IF
–
5.587
Publisher:
Oscar Publishing Services
Servi
ABSTRACT
This article discusses entrepreneurship trends in Zomin district. The role of business entities in reducing imports and
expanding exports in the region is increasing. On the one hand, they produce import-substituting goods, reduce
foreign exchange outflow and strengthen the economic and financial independence of the region, and on the other
hand, produce exportable products, sell them in foreign markets, increase the country’s export potential and increase
foreign exchange earnings.
KEYWORDS
Entrepreneurship trends, Zomin district, business entities, reducing imports, expanding exports, import-substituting
goods, foreign exchange outflow, financial independence.
INTRODUCTION
Entrepreneurship! This phenomenon and concept
seems very simple, obvious to everyone at first glance.
In fact, it is a very complex, multifaceted and,
moreover,
a
fundamental
socio-economic
phenomenon. Y. Schumpeter, who is considered an
entrepreneurship
ideologist,
emphasized
that
entrepreneurship is a phenomenon characteristic of all
types of socio-economic systems, not only a
component of them, but also a driving force of the
economy.
Research Article
ENTREPRENEURSHIP TRENDS IN ZOMIN DISTRICT
Submission Date:
July 15, 2022,
Accepted Date:
July 25, 2022,
Published Date:
July 30, 2022
Crossref doi:
https://doi.org/10.37547/ijmef/Volume02Issue07-02
Azizbek K. Qudratov
Employee, Zomin Branch of “Xalq Banki”, 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 02 Issue 07-2022
16
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
02
I
SSUE
07
Pages:
15
-19
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)
(2022:
5.
705
)
OCLC
–
1121105677
METADATA
IF
–
5.587
Publisher:
Oscar Publishing Services
Servi
THE MAIN FINDINGS AND RESULTS
Entrepreneurship is proving to be such a force in social
and economic development of Uzbekistan and in
mitigating the negative effects of the global financial
and economic crisis and is becoming a leading sector.
48.2% of the country’s gross domestic product created
in 2008, 76% of the employed population, and 70% of
the population's income belong to small business and
private entrepreneurship. In 2010, its share in the gross
domestic product is expected to reach 50-52 percent.
However, all aspects and functional properties of
entrepreneurship have not yet been sufficiently
studied, and as a result, its potential has not been fully
mobilized. So, the science of the basics of
entrepreneurship has huge tasks ahead of it. Such a
task can be summarized as follows:
•
In the field of theory: broader and deeper research
of the entrepreneurial phenomenon, defining its
fundamental functional properties and forming a
comprehensive theoretical model;
•
In the field of methodology: enrichment and
serious improvement of the currently formed and
supported
theoretical-practical
research
methodology with new and existing effective
methods, approaches;
•
In the field of practice: using an excellent
methodology enriched with new theoretical-
methodical approaches, a deeper analysis of
business practice and recommending effective
solutions to its problems;
•
In the field of education: equipping students,
students, entrepreneurs, professionals with
knowledge, skills, and worldview that ensure the
organization
and
implementation
of
entrepreneurial activities at a high cultural level;
•
In the field of promotion: scientific and practical
promotion of the importance and role of
entrepreneurship for humanity and society,
achievements and prospects in society, advanced
experience.
In recent years, many conditions for entrepreneurship
have been created in our country. As a result of these
conditions,
entrepreneurship
has
developed
sufficiently even in the city of Jizzakh. A number of
conveniences were also created for entrepreneurs,
including low-interest loans and land plots. People who
want to become entrepreneurs are using these
opportunities to make a lot of decisions.
Based on this, the task of this work is determined as
follows: formation of a system of knowledge about the
essence, importance and role, signs and principles of
entrepreneurship,
social,
legal,
organizational,
material, financial, human, management, marketing,
analytical foundations; Creating an idea about the
policy, practice, problems and prospects of
development and support of entrepreneurship in
Zomin district; is the formation of skills for organizing
and implementing entrepreneurial activities. In order
to effectively implement this task, new topics and
paragraphs were included in the creative work,
materials were presented in a logically more compact
form and consistency, tables and drawing models were
widely used, examples from practice were given, and
brief conclusions were formed for each plan.
Entrepreneurship plays a major role in solving existing
problems in the social and economic spheres in the
society and in the socio-economic development of the
society. It creates new jobs in the fields of production,
work performance, and service, and is of great
importance in providing employment to the
population and reducing unemployment.
Volume 02 Issue 07-2022
17
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
02
I
SSUE
07
Pages:
15
-19
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)
(2022:
5.
705
)
OCLC
–
1121105677
METADATA
IF
–
5.587
Publisher:
Oscar Publishing Services
Servi
Entrepreneurship actively involves the previously
unused savings of the population, local resources,
production and household waste, foreign investments
into the socio-economic process, and leads to the
expansion of production, increase of national product
and wealth.
Entrepreneurship is not only a source of personal
income, but also a significant source of income for the
state. A large part of the state budget revenues falls on
the business sector.
Entrepreneurship is creativity. Its mission and sign is
manifested in the creation of a new offer or a new
combination (combination) of the offer in accordance
with the emerging need and thereby forming a new
market.
In Jizzakh, the socio-economic relations of the
entrepreneurial society are embodied, clearly
manifested, and it is becoming a rapidly developing
and dynamic sphere. Its place and role in the formation
of market relations and economic development in the
country is becoming more and more significant.
In the early stages, the most important sign of
entrepreneurship was acting in uncertain conditions.
Because demand and supply in the market, the market
situation is constantly changing, the level of
profitability of business activity is not clear, and the
entrepreneur has to work at risk. At the next stage, the
concepts of “entrepreneur” and “investor” began to
be differentiated. An entrepreneur appears as a person
who ensures that the investment is in constant motion
and increases. In this case, the entrepreneur skillfully
uses the funds involved, applies his/her ideas,
knowledge and experience to start and implement a
business, and spends the funds on risky activities in
order to make a profit.
Entrepreneurship itself is carried out not only at the
level of individuals, but also at the level of
organizations. It manifests overtly and covertly in
forms such as decision-making and risk-taking,
allocation of resources in effective directions,
management, organization and execution of decisions.
Therefore, entrepreneurship is a creative activity
aimed at discovering new opportunities to satisfy
demand in an unbalanced state of the economic
system.
In the Law of the Republic of Uzbekistan “On
Guarantees of Freedom of Entrepreneurial Activity”
(May 25, 2000), the concepts of “entrepreneurship”
and “entrepreneur” are defined as follows: initiative
activity aimed at obtaining income (profit) at risk and
under one’s own property responsibility, carried out in
accordance with documents. “Entrepreneur - a natural
person engaged in business activities on a permanent
basis, whether or not he has established a legal entity”.
Thus, with the development, expansion and deepening
of entrepreneurship activity and science, the essence
of the concept of entrepreneurship is clarified and
enriched.
A certain part of entrepreneurs stand on their feet and
become owners as a result of further development.
This will lead to the formation of a new generation of
entrepreneurs and owners who think and act in a new
way in society. Such persons are the social support of
the state and the source of economic development.
Business entities also participate in personnel training
and improvement of their qualifications. At the same
time, entrepreneurs themselves are in constant search,
communicate with local and foreign colleagues,
partners, representatives of various fields, gain
experience, and improve their professional, cultural,
and spiritual levels. Entrepreneurs have established
production, trade, catering and other service
Volume 02 Issue 07-2022
18
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
02
I
SSUE
07
Pages:
15
-19
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)
(2022:
5.
705
)
OCLC
–
1121105677
METADATA
IF
–
5.587
Publisher:
Oscar Publishing Services
Servi
enterprises in villages and neighborhoods, developing
rural infrastructure. They change the image of villages
and neighborhoods.
In addition, in the Zomin district of the city of Jizzakh,
entrepreneurship is widely entering the social sphere:
kindergartens, orphanages, production of inventories
for the disabled in private and other organizational and
legal forms, and provision of services to them, health
care and rehabilitation, directly engaged in the
establishment and development of educational and
other social institutions, construction and repair of
houses, provision of drinking water and gas to the
population. Entrepreneurs also take an active part in
charity work and play an important role in providing
assistance to social institutions, disabled people, low-
income families, and people in need of social
protection. The role of business entities in reducing
imports and expanding exports in the country is
increasing. On the one hand, they produce import-
substituting goods, reduce foreign exchange outflow
and strengthen the economic and financial
independence of the country, and on the other hand,
produce exportable products, sell them in foreign
markets, increase the country’s export potential and
increase foreign exchange earnings. Entrepreneurship
is important for raising production to a new, higher
level in terms of quality by restructuring production,
combining and organizing production factors (labor,
labor tools, labor objects) in a new harmony, and more
effectively coordinating production relations with
productive forces. This creates new, additional
opportunities
for
the
implementation
and
development of production, and their implementation
ensures an increase in the productivity of existing
capacities, the production of additional products and
an increase in efficiency.
Entrepreneurship actively involves the previously
unused savings of the population, local resources,
production and household waste, foreign investments
into the socio-economic process, and leads to the
expansion of production, increase of national product
and wealth.
Entrepreneurship is not only a source of personal
income, but also a significant source of income for the
state. A large part of the state budget revenues falls on
the business sector.
Issues of formation, distribution, and use of funds
necessary for business activities constitute business
financial relations. Financing of business activities
means providing business activities with financial
resources, i.e. money. Financing of business activities is
carried out from two sources - internal and external.
The internal source of financing is the business entity's
own funds, which include funds from the charter
capital, profit from activities, depreciation fund, and
free funds. External sources of financing include
lenders, investors, and other lenders. Investments are
the main financial source of business development.
Investments are material and immaterial goods and
rights related to them. They can be included from
internal sources (own funds of business entities) and
external sources (domestic and foreign investors). The
weight of foreign investments is also increasing in the
business sector.
CONCLUSION
In conclusion, entrepreneurship in the world has gone
through various stages in its development and
continues to develop. It was formed and developed in
each country in its own way. In the Zomin district, its
development starts from a stage close to modern
entrepreneurship, and is rapidly and consistently
moving towards a higher stage. But such development
Volume 02 Issue 07-2022
19
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
02
I
SSUE
07
Pages:
15
-19
SJIF
I
MPACT
FACTOR
(2021:
5.
705
)
(2022:
5.
705
)
OCLC
–
1121105677
METADATA
IF
–
5.587
Publisher:
Oscar Publishing Services
Servi
was not without difficulties, and even now many
problems in this direction are waiting for their solution.
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