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All Journal Journal of Economics and Economic Policy
Feruza Rustambek qizi, Rustambekova
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Economics, Econometrics & Finance Social Sciences

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DEVELOPMENT OF SMALL BUSINESSES BASED ON DIVERSIFICATION Feruza Rustambek qizi, Rustambekova
Journal of Economic and Economic Policy Vol. 2 No. 1 (2025): Journal of Economics and Economic Policy
Publisher : PT ANTIS INTERNATIONAL PUBLISHER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijecep.v2i1.53

Abstract

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.
DEVELOPMENT OF SMALL BUSINESSES BASED ON DIVERSIFICATION Feruza Rustambek qizi, Rustambekova
Journal of Economic and Economic Policy Vol. 2 No. 1 (2025): Journal of Economics and Economic Policy
Publisher : PT. Antis International Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijecep.v2i1.53

Abstract

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.
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