DIRECTIONS AND FACTORS FOR THE DEVELOPMENT OF SMALL BUSINESS IN THE COUNTRY'S ECONOMY

This article explores the critical role of small business in driving sustainable economic development, with a specific focus on the Republic of Uzbekistan. Drawing on global experience and recent domestic reforms, the authors analyze the key directions and factors influencing small business growth, including regulatory support, financial accessibility, and innovation. The study highlights the socio-economic benefits of small enterprises—such as job creation, poverty reduction, and regional development—while also identifying persistent challenges such as limited financing, skills shortages, and bureaucratic barriers. Emphasis is placed on Uzbekistan’s recent policy measures, including tax incentives, credit programs, and institutional reforms, aimed at fostering a more dynamic and resilient entrepreneurial sector. The article concludes with strategic recommendations to further enhance the contribution of small businesses to the national economy.