Opportunities and Challenges Faced by Small and Medium Enterprises in Uzbekistan

Olimjon Gaybullaev

The Institute for Fiscal Studies, Ministry of Finance in Uzbekistan

Marian Oliński

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.


Keywords:

: small and medium enterprises, development, support policy


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Published
2020-12-31

Cited by

Gaybullaev, O., & Oliński, M. (2020). Opportunities and Challenges Faced by Small and Medium Enterprises in Uzbekistan. Olsztyn Economic Journal, 15(4), 285–299. https://doi.org/10.31648/oej.6852

Olimjon Gaybullaev 
The Institute for Fiscal Studies, Ministry of Finance in Uzbekistan
Marian Oliński 
Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn



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