Innovation Activity of Small Businesses and Microfirms in the Republic of Uzbekistan

Authors

  • Ibrohimov Boburmirzo Baxtiyor o’g’li Namangan Institute of Engineering and Technology, 2nd year PhD student in the specialty "Agricultural Economics"

Keywords:

Innovation, small businesses, micro-firms, Uzbekistan

Abstract

This article examines the innovative activities of small businesses and micro-firms in the Republic of Uzbekistan, focusing on their contribution to the nation’s socio-economic development. It highlights the strategic importance of innovation as a driving force for enhancing competitiveness, productivity, and sustainability in small enterprises. The study explores the current state of innovative practices, identifying key areas where these businesses have excelled, such as adopting digital technologies, developing new products, and improving services. It also analyzes the challenges they face, including limited access to financing, insufficient infrastructure, and a lack of skilled personnel.

The article evaluates government initiatives and reforms aimed at fostering innovation in small businesses, including financial incentives, tax benefits, and the establishment of business incubators. Drawing on empirical data, it provides insights into how these measures have influenced the entrepreneurial ecosystem. By presenting examples of successful innovative projects, the study underscores the potential of small businesses to become engines of economic growth. The article concludes with recommendations for enhancing the innovation capacity of small businesses through policy adjustments, increased investment, and international collaboration.

References

1. Ibrohimov, B. (2024). O ‘zbekiston Respublikasida tadbirkorlik subyektlarida innovatsion faoliyatning ahamiyati va o ‘rni.

2. To’rayevna, S. N. (2024). O’ZBEKISTONDAGI XUSUSIY TADBIRKORLIKNI RIVOJLANTIRISHDA AHOLINI ISH BILAN BANDLIGINI TASHKIL ETISHNING INNOVATSION XUSUSIYATLARI. Scientific Journal of Actuarial Finance and Accounting, 4(08), 113-118.

3. Rustam, T. (2024). TADBIRKORLIK SUBYEKTLARINI RIVOJLANTIRISHDA BULUTLI TEXNOLOGIYALARNING OʻRNI. Kokand University Research Base, 549-552.

4. O’zbekiston Respublikasi prezidenti huzuridagi statistika agentligi ma’lumotlari (stat.uz):

5. Ibrahimovich, R. B., Ugli, I. B. B., & Ugli, I. B. B. (2023). INNOVATIVE REFORMS IN AGRICULTURE DEVELOPMENT. The American Journal of Management and Economics Innovations, 5(03), 9-13.

Published

2024-12-13

How to Cite

Ibrohimov Boburmirzo Baxtiyor o’g’li. (2024). Innovation Activity of Small Businesses and Microfirms in the Republic of Uzbekistan. EUROPEAN JOURNAL OF BUSINESS STARTUPS AND OPEN SOCIETY, 4(12), 121–125. Retrieved from https://inovatus.es/index.php/ejbsos/article/view/4762

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