Small and medium-sized enterprises in the transition economy of Uzbekistan: Conditions and perspectives
Abstract
The high economic and social signi cance of small business in industrially developed countries is generally acknowledged: small business makes an important contribution to the economy not only by introducing new products and processes, and creating jobs, but also by making the economy more adaptive and exible by retaining workers longer during times of recession and hiring workers earlier as expansion begins. In the Uzbekistan economy, as a result of central planning, dominant large organizations with many subsiduary units meant that the role of small and medium-sized enterprises (SMEs) had been marginal. The objective of this paper is to analyze the organization of SMEs in the new economic system that is in the process of development in Uzbekistan. In so doing, it will help formulate the motivation of managers of SMEs in the transition period. I will pay attention to the following important elements: