FACTORS INFLUENCING THE DEVELOPMENT OF SMALL AND MEDIUM-SIZED ENTERPRISES AND INDUSTRY IN THE REGIONS OF UZBEKISTAN: STATISTICAL AND ECONOMETRIC ANALYSIS AND DIRECTIONS FOR REGIONAL POLICY

The development of small businesses at the regional level is one of the key factors contributing to sustainable economic growth, employment expansion, and the reduction of territorial disparities. In emerging economies, particularly Uzbekistan, small business entities play a significant role in generating income, stimulating entrepreneurial activity, and strengthening regional economic resilience. Despite large-scale reforms aimed at supporting entrepreneurship, opportunities remain to further improve access to finance, infrastructure quality, market opportunities, and institutional efficiency across regions. This article examines the economic mechanisms of small business development in the regions of Uzbekistan through a comparative analysis of international practices, including the experiences of the United States, Germany, and South Korea. The study employs comparative, statistical, institutional, and analytical methods to evaluate the effectiveness of financial and credit instruments, tax incentives, innovation infrastructure, and decentralised governance models. The findings demonstrate that successful regional small business development depends on the coordinated interaction of three major factors: effective financial mechanisms, adaptive institutional systems, and well-developed entrepreneurial infrastructure. The study identifies key areas for further improvement in Uzbekistan, including the decentralisation of management, the strengthening of regional financial institutions, and the promotion of balanced territorial development. Based on the findings, several policy recommendations are proposed, including the decentralisation of support mechanisms, expansion of regional financing instruments, development of business incubators and technology parks, and implementation of differentiated regional entrepreneurship strategies. The practical significance of the study lies in developing proposals aimed at enhancing the competitiveness and sustainability of small business entities across the regions of Uzbekistan.