Socio-Economic Importance of Small Business and Private Entrepreneurship in Uzbekistan

Abstract

This study investigates the socio-economic importance of small business and private entrepreneurship in Uzbekistan, highlighting their pivotal role since the country's independence. Despite significant attention to small business development, there remains a knowledge gap regarding the specific socio-economic impacts and the structural challenges faced by these enterprises. Using a mixed-methods approach, including qualitative analysis of policy documents and quantitative data from recent government reports, this research identifies key drivers and barriers to small business growth. The findings reveal that small businesses significantly contribute to employment, economic diversification, and innovation, but are hindered by regulatory inefficiencies and limited access to finance. The results underscore the need for targeted policy interventions to enhance the business environment and support sustainable growth in the sector, which is crucial for Uzbekistan's long-term economic stability and development.