Full Article: PDF
Scientific Object Identifier: http://s-o-i.org/1.1/TAS-09-101-66
DOI: https://dx.doi.org/10.15863/TAS.2021.09.101.66
Language: English
Citation: Rustamov, M. S. (2021). Lending of entrepreneurs is an important factor in economic development. ISJ Theoretical & Applied Science, 09 (101), 553-558. Soi: http://s-o-i.org/1.1/TAS-09-101-66 Doi: https://dx.doi.org/10.15863/TAS.2021.09.101.66 |
Pages: 553-558
Published: 30.09.2021
Abstract: Small business and private entrepreneurship are one of the growth points of the economy, an important source of employment and the simplest way to reduce poverty. The adoption of the Resolution of the President of the Republic of Uzbekistan dated October 13, 2020 No PP-4862 "On additional measures to improve the system of entrepreneurship and development of entrepreneurship"[2] is another incentive for the development of entrepreneurship. It is very important today that it is tasked to form an integrated system of lending to businesses, based on foreign experience, consisting of the possibility of obtaining complex and complementary loans. Financial support of business entities on the basis of loans has been identified as one of the main directions of the ongoing reforms in the country. The Action Strategy for the five priority areas of further development of the Republic of Uzbekistan for 2017-2021 sets the task of "further expansion of lending to small business and private entrepreneurship" [1]. In particular, it is important to scientifically substantiate the accumulation of extensive practical and rich experience in business lending in economically developed countries, the study, generalization of these foreign experiences and their use in the practice of the banking system. The article examines the specifics, the theoretical basis of the impact of small business lending on economic growth in the country. The relationship of scientists and experts to this issue is studied and an author's approach is given. Based on the research, scientific conclusions have been made.
Key words: Small business, lending, supply, interest, income, long-term loans entrepreneurs economic development, Ordinary Least Squares.
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