THE ROLE OF SMALL BUSINESSES IN ECONOMIC DEVELOPMENT IN UZBEKISTAN
Keywords:
Small businesses; Economic development; Entrepreneurship; Job creation; Innovation; Sustainable growth; SMEs; Market competitiveness; Regional development; Access to finance.Abstract
Small businesses play a crucial role in promoting economic development and ensuring sustainable growth in both developed and developing countries. They contribute significantly to job creation, income generation, and poverty reduction. By encouraging entrepreneurship and innovation, small enterprises stimulate competition and increase productivity within the market. Furthermore, they support local communities by utilizing domestic resources and responding flexibly to consumer demands.
This article examines the economic impact of small businesses, focusing on their contribution to employment, regional development, and economic diversification. It also analyzes the challenges they face, including limited access to finance, regulatory barriers, and market competition. The study concludes that effective government support, financial accessibility, and a favorable business environment are essential to strengthen the role of small enterprises in national economic growth.
