Development of small and medium business in Uzbekistan; past, today and the future perspectives

Small and medium business (SME) and entrepreneurship havebeen proven and acknowledged by many scholars, practitioners and policy makers to be the most efficient way for the country to transform its ecomnonomy a step ahead. Due to its unique features, support and development of SME has helped the economy of many developed countries grow fast. In this article, we analyze the past and current development of SME and entrepreneurship in Uzbekistan-one of the fastest growing economies of the world. To do this, we used explorative approach and mainly approached secondary data; those are published articles, reports, and resolutions by the different international organization, government bodies of Uzbekistan on SME and entrepreneurship development. It can be stated that SME and entrepreneurship development in Uzbekistan is in the focus of the government, and it can be seen as a promising power to take Uzbekistan's economy a step up in its fast growth.