Publication Details
Abstract
This paper analyzes significance and importance of technological, marketing and organizational innovations for small businesses and micro-enterprises in the Republic of Uzbekistan. Small and micro-scale enterprises are significant for economic growth, employment and markets decongestion. But they are not often developed to their full potential due to limited resources and a lack of imagination. It discusses how these firms embrace and accommodate innovation for competitive and sustainable advantages in an ever-evolving market landscape. The paper discusses the main challenges including access to technology, lack of financial resources and expertise with emphasis on innovation as a growth engine. There is an increasing attention on technological advances, innovative marketing strategies designed for local and international markets, and efficient organizational structures that could ensure firm sustainability. By studying existing small businesses in Uzbekistan and the recent development trends of this business segment, the paper brings up an approach to what specific strategies were chosen by small business. overcoming obstacles. Declining trend is highlighted and suggestions for the policy response and support machanism to stimulate innovation culture were stated. The objective of this study is to participate in the ongoing debate on how innovation capability among small and micro enterprises can be developed in developing countries.