Development of Small Business and Private Entrepreneurship

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Journal of Marketing and 
Emerging Economics
 
 
| e-ISSN: 2792-4009 | www.openaccessjournals.eu | Volume: 1 Issue: 5 
 
ISSN 2792-4009 (online), Published under Volume: 1 Issue: 5 in
October-2021 
Copyright (c) 2021 Author (s). This is an open-access article distributed under the terms of Creative Commons 
Attribution License (CC BY).To view a copy of this license, visit https://creativecommons.org/licenses/by/4.0/ 
 
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Development of Small Business and Private Entrepreneurship
 
Abduraxmanova Zulayho Olimjanovna
 
Scientific applicant Namangan State University 
Soliev Ibodulloxon Ismatullaevich
 
Supervisor, Associate Professor Namangan State University 
 
Annotation: 
This article discusses the role, importance and necessity of small business and private entrepreneurship in 
economic development due to the relevance of small business and private entrepreneurship today. In addition, he 
comments on the practical aspects of small business and private entrepreneurship in Uzbekistan, the legal framework, 
the problems in the country and measures to address them, as well as the practical aspects of small business and private 
entrepreneurship. In the example of a small business entity, its financial condition is disclosed and appropriate 
proposals are made. 
Keywords:
Entrepreneurship, socio-economic development, small business and private entrepreneurship, business 
entity, innovation, investment projects, credit. 
 
Introduction 
Entrepreneurship! This phenomenon and concept is very simple at first glance, it seems obvious to everyone. Indeed, it 
is a very complex, multifaceted and, moreover, fundamental socio-economic phenomenon. Schumpeter, who is an 
ideologue of entrepreneurship, noted that entrepreneurship is a phenomenon inherent in all types of socio-economic 
systems, and is not only an integral part of them, but also a driving force of the economy. Entrepreneurship 
demonstrates and is becoming a leading force in the socio-economic development of Uzbekistan and in mitigating the 
negative effects of the global financial and economic crisis. Small business and private entrepreneurship accounted for 
48.2% of the country's GDP in 2008, 76% of the employed population and 70% of the population's income. In 2010, it 
is planned to increase its share in GDP to 50-52%. But not all aspects and functional properties of entrepreneurship 
have been sufficiently studied and as a result its potential has not been fully mobilized. So, the science of the basics of 
entrepreneurship faces enormous challenges. Summarizing such a task can be expressed as follows: 
1.
In the field of theory: a broader and deeper study of the phenomenon of entrepreneurship, the identification of its 
fundamental functional properties and the formation of an integrated theoretical model; 
2.
In the field of methodology: enrichment and serious improvement of the methodology of theoretical and practical 
research, which is currently formed and used, with new and existing effective methods and approaches; 
3.
In the field of practice: in-depth analysis of business practice and recommendation of effective solutions to 
problems using the perfect methodology, enriched with new theoretical and methodological approaches; 
4.
In the field of education: equipping students, pupils, entrepreneurs, professionals with knowledge, skills, 
worldview that will ensure the organization and implementation of entrepreneurial activity at a high cultural level; 
5.
In the field of advocacy: the importance and role of entrepreneurship for humanity and society, achievements and 
prospects in society, scientific and practical dissemination of best practices. 
Therefore, the task of this work is to: form a system of knowledge about the essence, significance and role, signs and 
principles of entrepreneurship, social, legal, organizational, material, financial, human, management, marketing, 
analytical bases; To form an idea of the policy, practice, problems and prospects of business development and support 
in Uzbekistan; formation of skills of organization and implementation of entrepreneurial activity. 
Entrepreneurship plays a major role in solving existing problems in the social and economic spheres in society and in 
the socio-economic development of society. It will play an important role in creating new jobs in manufacturing, 
employment, services, employment and reducing unemployment. In both developed countries and Uzbekistan, more 
than half of the new jobs created each year are in small and private businesses. This means that entrepreneurship will 
make a significant contribution to the growth of employment, labor and economic activity of the population and, as a 
result, to an increase in its income. Two consequences of this process must be taken into account: on the one hand, the 

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