Rustamov Maksud Suvankulovich
Scientific researcher of the Tashkent institute of finance
Tashkent, Uzbekistan. rustamov.m.s@mail.ru
ORCID: 0000000233295971
Abstract. In the article, the increase in the volume of loans provided by banks to business entities at the expense of foreign and local funds is distinguished by its place in development. In addition, suggestions were made on ways to provide all-round support for small business development and timely credit funds.
There is no doubt that the competitiveness of the national economy also depends on the high share of small business in indicators reflecting the processes of economic activity and its results.
The ability to create new jobs at low cost, the ability to occupy market segments that cannot be penetrated by large businesses, especially in the service sector, and the fact that it is a very convenient organizational form for mastering small local resource bases shows that the importance of small business development is incomparable. For this reason, the issue of rapid development of small business is closely connected with the issues of localization of production, development of the service sector, as well as increasing the country’s export potential.
One of the sources of financial support for small business entities is credit lines opened at the expense of funds allocated by international financial organizations and foreign banks. Structural changes in the economy of our republic require large investments.
Currently, foreign credit lines are of great importance in the development of the economy of Uzbekistan, in the financing of projects implemented in small business enterprises. Loans at the expense of foreign credit lines are granted to small business entities for investment projects that involve the processing of export and import-substituting products, agricultural products and other raw material resources, and the production of consumer goods of daily need. Because small business enterprises need to introduce the latest techniques and technologies in production in order to produce exportable products. Financing of investment projects is being accelerated by attracting foreign credit lines to this sector by commercial banks.
Key words. small and medium business, credit, savings, loan interest, compensation, guarantee, credit lines.