BARQAROR IQTISODIY OʻSISH ORQALI AHOLI
TURMUSH FAROVONLIGINI OSHIRISH MASALALARI
24-may 2024-yil
86
SMALL BUSINESS LENDING AS A GUARANTEE FOR THE
DEVELOPMENT OF THE COUNTRY
Ortiqov Ulug‘bek Akrombek o‘g‘li
Teacher of Tashkent State University of Economics
Abstract:
Lending to small businesses and private entrepreneurship
plays an important role in GDP growth and in the development of the
country's economy.Crediting small business and private business plays main
role in increasing GDP and developing economy of the country.
Keywords:
small business, private entrepreneurship, credit, micro-
credit, domestic ox product, cash, credit lines.
In both developed and developing countries, the development of the
economy is inextricably linked to credit, which in various forms penetrates
all spheres of life. This is due to the expansion of the range of operations of
banks, том including и in the field of lending. Performing banking
operations with a broad clientele is an important feature of modern banking
activities in all countries of the world with a developed credit system.
The existence of small business and private entrepreneurship in the
country means the emergence of a middle class that contributes to the
normalization of the economic and political situation in society.
As the experience of countries that achieved a dominant position in the
global economy shows, they raised the standard of living of the population by
developing small businesses and private entrepreneurship. For example, the
share of small and medium-sized businesses in the gross domestic product of
the EU member states is 67%, in Germany-65%, in the USA-52%. In Japan,
80% of the employed population, in the European Union - 70% work in small
businesses and private entrepreneurship. As a rule, the source of bank lending
is attracted funds. In this regard, it is important to note that when lending, the
bank risks not so much its own funds, which is also possible, as the funds of
its depositors. This means that it is necessary to establish means to protect the
rights and interests of depositors, and provide a mechanism for their
implementation. Moreover, this should be done not at the level of private
legal regulation, but by establishing public legal rules.
For the development of small businesses, credit resources are attracted
from foreign investors and reputable world banks, including the European
Bank for Reconstruction and Development, the German Development Bank,
the Asian Development Bank, the International Finance Corporation and
other international financial organizations. In order to provide assistance and
advice to entrepreneurs and businessmen, a Small Business Support Center
was opened in Uzbekistan with the assistance of the German Technical
Assistance Society. The US Entrepreneurship Foundation and the UK
Investment Fund, which operate in Central Asia, provide Uzbek
entrepreneurs with the necessary information.
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TURMUSH FAROVONLIGINI OSHIRISH MASALALARI
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Table 1.
Loans to small businesses and private entrepreneurs
[1]
(million sums)
Commercial banks
31.12.2013 31.12.2014 31.12.2015
Asaka Bank
741 683.6 1 111 608.0 1 228 832.8
National Bank of Foreign Economic
Activity of the Republic of Uzbekistan
1 040 400.0 1 040 400.0 1 200 0000.0
JSCB Agrobank
507 823.8
619 875.0
789 680.9
Halyk Bank Group
497 647.5
581 346.0
633 809.6
JSCIB Ipoteka-Bank
396 976.2
573 373.0
698 173.3
Uzpromstroybank JSCB
420 618.0
567 764.0
564 494.2
Khamkorbank JSCB
307 082.3
531 920.0
783 911.5
JSCB Mikrokreditbank JSCB
449 985.7
521 148.0
621 793,8
JSCB Kishlok 793.8 Kishlok Kurilish
Bank JSCB
319 534.1
438 246.0
559 907.9
Alokabank JSCB
335 163.2
417 217.0
428 119.4
An important factor of differentiation in the conditions of the republic
was the history of business creation, the degree of its dependence on the
public sector. As the study of foreign experience shows, an indispensable
condition for success in the development of small businesses is
comprehensive and stable state support. It is carried out in various forms:
stimulating the production of the most priority types of products, providing
tax incentives, subsidizing preferential bank lending, creating information
and advisory and scientific and technical centers, developing the insurance
system, organizing logistics, financial support, and a financing mechanism.
Currently, there are several problems in the segment of lending to small
businesses by commercial banks. Key among them is the availability of
credit products for small businesses, which is determined by a number of
aspects: the need to provide collateral and guarantees, high interest rates,
complexity of paperwork, lack of trust in the bank, as well as late repayment
of loans received. The study of this problem is that the timely repayment of
loans issued to them in the future continued at a preferential interest rate and
conditions for the further development of the activities of small businesses.
The state creates all favorable conditions for the development of small
businesses and private entrepreneurship through lending to this sector from
banks, but still there are some problems of lending in the banking system of
Uzbekistan, which are due to the following reasons:
BARQAROR IQTISODIY OʻSISH ORQALI AHOLI
TURMUSH FAROVONLIGINI OSHIRISH MASALALARI
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First, the resource base of commercial banks in the republic is
insufficient.
Interest rates are rising, which forces the best borrowers to leave
the market.
third, the relatively low level of the monetization coefficient
(according to the recommendation of IMF experts, the minimum level of the
coefficient should be 30-33%) [4];
Fourth, there are shortcomings in the process of loan processing
and accounting in a number of branches of commercial banks in the republic.
fifth, the problem of inadequate use of types and methods of credit.
The main reasons for lending to small businesses are non-
transparency and the risks of non-repayment of loans.
underdeveloped banking technologies that do not allow you to
reduce the cost of handling a single client.
lack of reliable collateral, as most small businesses do not own
liquid property.
distrust of small businesses experienced by banks.
commercial banks do not have the resource capacity to open long-
term credit lines for small businesses.
illiteracy of borrowers.
Having studied the problems of lending to small businesses in
Uzbekistan, we came to the following conclusions:
1.
The resource base of commercial banks in the republic is
insufficient
2.
Interest rates are rising, which forces the best borrowers to leave
the market.
3.
Commercial banks are associated with the risk of non-repayment of
loans.
4.
Lack of sufficient collateral when obtaining bank loans from
representatives of small businesses.
5.
Assessment methods used by commercial banks of the republic
cannot give a complete description of the borrower, as they do not take into
account factors that are not related to financial coefficients. From here
we canassume that commercial banks use an incomplete system for analyzing
the creditworthiness of borrowers, which most likely distorts the real picture.
6.
The share of foreign investments on loans issued in foreign
currency is small [4];.
To solve the above problems, we apply economic proposals in our
banking practice and in the future will increase the efficiency of lending to
small businesses and strengthen the stability of internal and external sources
of lending.
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BARQAROR IQTISODIY OʻSISH ORQALI AHOLI
TURMUSH FAROVONLIGINI OSHIRISH MASALALARI
24-may 2024-yil
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