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Opportunities And Challenges Faced By Small And Medium Enterprises In Uzbekistan

Author

Listed:
  • Olimjon Gaybullaev

    (The Institute for Fiscal Studies, Ministry of Finance in Uzbekistan)

  • Marian Olinski

    (Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn)

Abstract

Small and medium enterprises (SMEs) are a pillar of economic development in most national economies - both more and less developed. Enterprises of this type, being more flexible than large entities, are better able to use the opportunities created by the environment. Nevertheless, in the course of their activity, they also face numerous challenges. Thus, the purpose of the presented research is to identify the opportunities created and existing challenges in the development of SMEs in Uzbekistan in recent years. According to the opinion of 384 respondents (CAWI), the most important opportunities created by the government involved tax benefits and subsidies, preferences for export products and tax incentives for those creating new jobs. At the same time, the most important challenges were poor infrastructure, lack of skilled specialists, problems with the credit allocation system and high-interest rates.

Suggested Citation

  • Olimjon Gaybullaev & Marian Olinski, 2020. "Opportunities And Challenges Faced By Small And Medium Enterprises In Uzbekistan," OLSZTYN ECONOMIC JOURNAL, University of Warmia and Mazury in Olsztyn, Faculty of Economic Sciences, vol. 15(4), pages 285-299, December.
    • Handle: RePEc:ole:journl:v:15:y:2020:i:4:p:285-299
    DOI: https://doi.org/10.31648/oej.6852
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    More about this item

    Keywords

    small and medium enterprises; development; support policy;
    All these keywords.

    JEL classification:

    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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