DEVELOPMENT OF SMALL BUSINESSES BASED ON DIVERSIFICATION

Rustambekova Feruza Rustambek qizi

doi:10.61796/ijecep.v2i1.53

Authors

Rustambekova Feruza Rustambek qizi
[email protected]
Namangan Institute of Engineering and Technology Assistant of the Department of "Economics"

Vol. 2 No. 1 (2025): Journal of Economics and Economic Policy

Articles

March 20, 2025

Downloads

View Article

Abstract
How to Cite
Metrics
References
License

Objective: This study investigates the strategic role of diversification in enhancing the development and sustainability of small businesses, specifically in Uzbekistan's transitional economy. Method: A mixed-methods approach was employed, combining a literature review, statistical analysis, interviews with 15 small business owners, and a comparative evaluation of diversified versus non-diversified businesses. Secondary data from government and international sources were also analyzed. Results: The research found that small businesses engaging in diversification experienced significant improvements in financial and operational metrics: a 70% increase in income, 75% growth in customer base, and a 140% rise in employment. Novelty: This study contributes new insights into the impact of diversification on small businesses in transitional economies, offering practical recommendations for policymakers to foster innovation, competitiveness, and long-term growth by supporting diversified small enterprises.

P. Kotler, Marketing Management, McGraw-Hill, 2019.

Osterwalder and Y. Pigneur, Business Model Generation, Wiley, 2010.

State Statistics Committee, "State statistics data," 2023.

Uzbekistan Republic Investments and External Trade Ministry, "Reports," 2023

R. Rahmatullo, "The emergence of innovative digital technologies," 2020.

I. Maxkamov and R. R. Alojonovich, "An important factor in solving the poor problem," Journal of Economics, Finance and Management Studies, vol. 261, 2021.

Y. A. Axadjonovich and R. R. Alojonovich, "Necessity and directions of strengthening the revenue base of the regional budget," 2021.

R. A. Rashidov, N. H. Hasanboeva, and S. M. Otakhonov, "Issues of using bank credits in the development of family entrepreneurship," Journal of Central Asian Social Studies, vol. 2, no. 2, pp. 148-159, 2021.

R. R. A’lojonovich, "The role of digital payment systems in the development of the country’s economy," Development Issues of Innovative Economy in the Agricultural Sector, pp. 1142-1147, 2021.

R. R. Alojonovich, "The role of free economic zones in the development of the national economy," 2022.

R. R. Alojonovich, "The importance of digital payment systems in the digital economy," Scientific and Technical Journal of Namangan Institute of Engineering and Technology, 2022.

R. A. Rashidov, "Factors limiting the development of the small business sector," in International Scientific and Current Research Conferences, pp. 54-56, Jan. 2023.

R. R. Alojonovich, "The need for government regulation of small business," International Journal of Management and Economics Fundamental, vol. 3, no. 1, pp. 13-20, 2023.

R. A. Rashidov and Z. N. Salokhiddinov, "Specific characteristics of private business development," International Journal of Management and Economics Fundamental, vol. 3, no. 3, pp. 14-24, 2023.

R. R. Alojonovich, "Issues of using bank credits in the development of family entrepreneurship," World Journal of Advanced Research and Reviews, vol. 15, no. 1, pp. 418-423, 2022.

U. S. Rakhimberdievich and R. R. Alojonovich, "Directions for increasing labor productivity in agriculture," Galaxy International Interdisciplinary Research Journal, vol. 10, no. 10, pp. 179-182, 2022.

R. A. Rashidov, "Issues of regional development of small business," Scientific and Technical Journal of Namangan Institute of Engineering and Technology, vol. 8, no. 1, pp. 311-318, 2023

R. Rashidov and A. Shermatov, "Issues of using cost-effective technologies in the cotton industry," in AIP Conference Proceedings, vol. 2789, no. 1, AIP Publishing, 2023.

R. Rashidov, "Criteria for the effectiveness of using resultable technologies in cotton," in AIP Conference Proceedings, vol. 2789, no. 1, AIP Publishing, 2023.

R. A. Rashidov, "Analysis of the current state of small business and private entrepreneurship development," in E3S Web of Conferences, vol. 486, p. 01010, EDP Sciences, 2024.

I. A. Yusubjanovich, "The role of investment activity in ensuring economic growth," International Journal of Research in Commerce, IT, Engineering and Social Sciences, vol. 17, no. 11, pp. 22-29, 2023.

I. A. Yusubjanovich and A. S. Yuldashevna, "In training specialists integral educational technology," European Journal of Research and Reflection in Educational Sciences, vol. 7, no. 12, 2019.

R. Rashidov, "Regulations of the regional development of small business," Scientific and Technical Journal of Namangan Institute of Engineering and Technology, vol. 9, no. 1, pp. 315-324, 2024.

R. A. Rashidov, "Analysis of the current state of small business and private entrepreneurship development," in E3S Web of Conferences, vol. 486, p. 01010, EDP Sciences, 2024.

F. R. Feruza, "Nature, types and factors affecting investments," International Journal of Management and Economics Fundamental, vol. 3, no. 4, pp. 9-18, 2023.

S. R. oglu Sultanov and F. R. Rustambekova, "Marketing organization and management," Eurasian Journal of Academic Research, vol. 2, no. 3, pp. 164-167, 2022.