AN ANALYSIS OF THE DEVELOPMENT AND CHALLENGES OF SMALL BUSINESS AND PRIVATE ENTREPRENEURSHIP IN UZBEKISTAN

Abstract

Small businesses and private entrepreneurship are fundamental components of economic growth and structural transformation in developing economies. In Uzbekistan, economic reforms implemented during the past decade have significantly strengthened the role of small business in national development. This study examines the development trends, contributions, and challenges faced by small business and private entrepreneurship in Uzbekistan. The research relies on secondary data obtained from government reports, statistical databases, and previous academic studies. Descriptive statistical analysis and trend analysis were used to evaluate the contribution of small businesses to GDP, employment generation, and sectoral growth. The findings indicate that small businesses contribute more than half of Uzbekistan’s GDP and provide employment for a significant portion of the workforce. Despite this progress, the sector continues to face challenges such as limited financial access, regulatory barriers, technological limitations, and regional disparities. The study concludes that strengthening institutional frameworks, improving financial accessibility, and promoting digital transformation can enhance the sustainability and competitiveness of small businesses in Uzbekistan.