The impact of financial mechanisms on increasing the efficiency of small businesses and private entrepreneurship

https://doi.org/10.35912/joste.v6i3.2931
Published: May 21, 2025

Abstract:

Purpose: This study investigates the impact of financial mechanisms on improving the efficiency of small businesses and private entrepreneurship, focusing on their role in economic development in Uzbekistan, particularly in the Samarkand region.

Methodology: A mixed-methods approach was employed, integrating quantitative analysis of official statistics with historical-comparative and financial performance evaluations. Data were collected from national and regional reports, and descriptive statistics were used to assess trends in gross regional product contributions and business activity levels.

Results: The findings demonstrate that small businesses consistently contribute more than 70% to the gross regional product and play a vital role in employment and industrial output. However, persistent challenges in financial accessibility, regulatory implementation, and innovation hinder full potential. The study recommends enhancing financial infrastructure, expanding credit options, and improving entrepreneurial education to support long-term sectoral growth.

Authors:
1 . Ernazarov N. E.
Samarkand Institute of Economics and Service, Uzbekistan
2 . Kodirov Yusufbek Suyunbek Ugli
Samarkand Institute of Economics and Service, Uzbekistan
View PDF
How to Cite
E., E. N., & Ugli, K. Y. S. (2025). The impact of financial mechanisms on increasing the efficiency of small businesses and private entrepreneurship. Journal of Sustainable Tourism and Entrepreneurship, 6(3). https://doi.org/10.35912/joste.v6i3.2931
Download Citation
  1. Endnote/Zotero/Mendeley (RIS)
  2. BibTeX

Downloads

Download data is not yet available.
Issue & Section
Vol. 6 No. 3 (2025): May
Articles
Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

References

    Alimov, S. M., & Khalilov, U. B. (2021). Innovative approaches to entrepreneurship education in Uzbekistan. Journal of Business and Economic Policy, 7(4), 44–52.

    Bekmurodov, S. R. (2023). Employment and self-employment in the context of private sector growth. Labor Market Journal, 11(1), 91–98.

    Karimov, T. J. (2022). Development of private entrepreneurship in Uzbekistan: Legal and economic aspects. Journal of Central Asian Economic Studies, 6(1), 55–66.

    Ministry of Economic Development and Poverty Reduction of Uzbekistan. (2022). Strategy of New Uzbekistan: 2022–2026. Retrieved from https://mineconomy.uz

    Mirzayeva, G., & Umarov, K. T. (2022). Financial and investment mechanisms in SME development. Finance and Banking Review, 5(2), 121–130.

    OECD. (2021). Entrepreneurship at a glance 2021. Paris: OECD Publishing.

    Sobirov, M. R., & Mamatkulova, L. K. (2023). Financial support mechanisms for SMEs in Uzbekistan: Trends and challenges. International Journal of Economics and Business Research, 18(2), 103–117.

    Turdiev, B. (2025). Political reforms for sustainable development in Uzbekistan. Education and Research in the Era of Digital Transformation, 1(1), 1260–1264.

    UNCTAD. (2022). World investment report 2022: International tax reforms and sustainable investment. United Nations. Retrieved from https://unctad.org

    World Bank. (2020). Doing business 2020: Comparing business regulation in 190 economies. Retrieved from https://www.worldbank.org

    Yuldasheva, D. (2023). The role of small business in regional economic development: Evidence from Samarkand. Regional Economics Review, 9(3), 75–84.

  1. Alimov, S. M., & Khalilov, U. B. (2021). Innovative approaches to entrepreneurship education in Uzbekistan. Journal of Business and Economic Policy, 7(4), 44–52.
  2. Bekmurodov, S. R. (2023). Employment and self-employment in the context of private sector growth. Labor Market Journal, 11(1), 91–98.
  3. Karimov, T. J. (2022). Development of private entrepreneurship in Uzbekistan: Legal and economic aspects. Journal of Central Asian Economic Studies, 6(1), 55–66.
  4. Ministry of Economic Development and Poverty Reduction of Uzbekistan. (2022). Strategy of New Uzbekistan: 2022–2026. Retrieved from https://mineconomy.uz
  5. Mirzayeva, G., & Umarov, K. T. (2022). Financial and investment mechanisms in SME development. Finance and Banking Review, 5(2), 121–130.
  6. OECD. (2021). Entrepreneurship at a glance 2021. Paris: OECD Publishing.
  7. Sobirov, M. R., & Mamatkulova, L. K. (2023). Financial support mechanisms for SMEs in Uzbekistan: Trends and challenges. International Journal of Economics and Business Research, 18(2), 103–117.
  8. Turdiev, B. (2025). Political reforms for sustainable development in Uzbekistan. Education and Research in the Era of Digital Transformation, 1(1), 1260–1264.
  9. UNCTAD. (2022). World investment report 2022: International tax reforms and sustainable investment. United Nations. Retrieved from https://unctad.org
  10. World Bank. (2020). Doing business 2020: Comparing business regulation in 190 economies. Retrieved from https://www.worldbank.org
  11. Yuldasheva, D. (2023). The role of small business in regional economic development: Evidence from Samarkand. Regional Economics Review, 9(3), 75–84.