{"id":1662,"date":"2026-06-25T22:44:18","date_gmt":"2026-06-25T17:44:18","guid":{"rendered":"https:\/\/fintech.tsue.uz\/?p=1662"},"modified":"2026-06-25T22:44:18","modified_gmt":"2026-06-25T17:44:18","slug":"%d0%ba%d0%b8%d1%87%d0%b8%d0%ba-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81%d0%bd%d0%b8-%d0%bc%d1%83%d2%9b%d0%be%d0%b1%d0%b8%d0%bb-%d0%bc%d0%be%d0%bb%d0%b8%d1%8f%d0%bb%d0%b0%d1%88%d1%82%d0%b8%d1%80%d0%b8","status":"publish","type":"post","link":"https:\/\/fintech.tsue.uz\/?p=1662","title":{"rendered":"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418"},"content":{"rendered":"\n<p><strong>\u0423\u043c\u0430\u0440\u043e\u0432\u0430 \u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d \u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430<\/strong><\/p>\n\n\n\n<p><em>\u043a\u0430\u0442\u0442\u0430 \u045e\u049b\u0438\u0442\u0443\u0432\u0447\u0438<\/em><\/p>\n\n\n\n<p><em>\u0410\u043d\u0434\u0438\u0436\u043e\u043d \u0444\u0430\u043a\u0443\u043b\u044c\u0442\u0435\u0442\u0438<\/em><\/p>\n\n\n\n<p><em>&nbsp;\u0422\u043e\u0448\u043a\u0435\u043d\u0442 \u0434\u0430\u0432\u043b\u0430\u0442 \u0438\u049b\u0442\u0438\u0441\u043e\u0434\u0438\u0451\u0442<\/em><\/p>\n\n\n\n<p><em>\u0443\u043d\u0438\u0432\u0435\u0440\u0441\u0438\u0442\u0435\u0442\u0438<\/em><\/p>\n\n\n\n<p><em>&nbsp;E-mail:<\/em><strong><em> <\/em><\/strong><a href=\"mailto:rustamjonumarov252@gmail.com\"><em>rustamjonumarov252@gmail.com<\/em><\/a><em><\/em><\/p>\n\n\n\n<p><em>ORCID:0009-0000-8859-4840<\/em><\/p>\n\n\n\n<p><strong><em>Annotatsiya. <\/em><\/strong><em>Ushbu maqolada kichik biznes subyektlarini muqobil moliyalashtirish mexanizmlari va ularning xorijiy ilg\u2018or tajribalari o\u2018rganilgan. Tadqiqot AQSh, Germaniya, Janubiy Koreya, Singapur va boshqa rivojlangan va rivojlanayotgan davlatlarning muqobil moliyalashtirish ekotizimlari \u2013 jumladan, kraudfanding, tengdoshlar orasidagi P2P kreditlash, venchur kapital, farishta investitsiya, zanjir moliyasi va aylanma kredit fondlarini qiyosiy tahlil qilishga qaratilgan. <\/em><em>Ushbu maqolada xorijiy modellarni O\u2018zbekiston sharoitiga moslashtirishning ilmiy asoslangan takliflari bayon etilgan.<\/em><\/p>\n\n\n\n<p><strong><em>Kalit so\u2018zlar: <\/em><\/strong><em>kichik biznes, muqobil moliyalashtirish, kraudfanding, P2P&nbsp;&nbsp; kreditlash, venchur kapital, moliyaviy inklyuzivlik, xorijiy tajriba.<\/em><\/p>\n\n\n\n<p><strong>\u041f\u0420\u041e\u0414\u0412\u0418\u041d\u0423\u0422\u042b\u0419 \u0417\u0410\u0420\u0423\u0411\u0415\u0416\u041d\u042b\u0419 \u041e\u041f\u042b\u0422<\/strong><strong> <\/strong><strong>\u0410\u041b\u042c\u0422\u0415\u0420\u041d\u0410\u0422\u0418\u0412\u041d\u041e\u0413\u041e \u0424\u0418\u041d\u0410\u041d\u0410\u0421\u0418\u0420\u041e\u0412\u0410\u041d\u0418\u042f \u041c\u0410\u041b\u041e\u0413\u041e \u0411\u0418\u0417\u041d\u0415\u0421\u0410<\/strong><\/p>\n\n\n\n<p><strong>\u0423\u043c\u0430\u0440\u043e\u0432\u0430 \u0413\u0443\u043b\u044c\u0437\u043e\u0434\u0430\u0445\u0430\u043d \u041a\u0430\u0434\u044b\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430<\/strong><\/p>\n\n\n\n<p><em>\u0441\u0442\u0430\u0440\u0448\u0438\u0439 \u043f\u0440\u0435\u043f\u043e\u0434\u0430\u0432\u0430\u0442\u0435\u043b\u044c<\/em><\/p>\n\n\n\n<p><em>\u0430\u043d\u0434\u0438\u0436\u0430\u043d\u0441\u043a\u043e\u0433\u043e<\/em><em> \u0444\u0430\u043a\u0443\u043b\u044c\u0442\u0435\u0442\u0430<\/em><\/p>\n\n\n\n<p><em>\u0422\u0430\u0448\u043a\u0435\u043d\u0442\u0441\u043a\u043e\u0433\u043e \u0433\u043e\u0441\u0443\u0434\u0430\u0440\u0441\u0442\u0432\u0435\u043d\u043d\u043e\u0433\u043e<\/em><\/p>\n\n\n\n<p><em>\u044d\u043a\u043e\u043d\u043e\u043c\u0438\u0447\u0435\u0441\u043a\u043e\u0433\u043e<\/em><em> \u0443<\/em><em>\u043d\u0438\u0432\u0435\u0440\u0441\u0438\u0442\u0435\u0442\u0430<\/em><\/p>\n\n\n\n<p><em>E-mail:<\/em><strong><em> <\/em><\/strong><a href=\"mailto:rustamjonumarov252@gmail.com\"><em>rustamjonumarov<\/em><em>252<\/em><em>@gmail.com<\/em><\/a><em><\/em><\/p>\n\n\n\n<p><em>ORCID:<\/em><em>0009-0000-8859-4840<\/em><\/p>\n\n\n\n<p><strong><em>\u0410\u043d\u043d\u043e\u0442\u0430\u0446\u0438\u044f. <\/em><\/strong><em>\u0412 \u0434\u0430\u043d\u043d\u043e\u0439 \u0441\u0442\u0430\u0442\u044c\u0435 \u0440\u0430\u0441\u0441\u043c\u0430\u0442\u0440\u0438\u0432\u0430\u044e\u0442\u0441\u044f \u0430\u043b\u044c\u0442\u0435\u0440\u043d\u0430\u0442\u0438\u0432\u043d\u044b\u0435 \u043c\u0435\u0445\u0430\u043d\u0438\u0437\u043c\u044b \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f \u043c\u0430\u043b\u043e\u0433\u043e \u0431\u0438\u0437\u043d\u0435\u0441\u0430 \u0438 \u043f\u0435\u0440\u0435\u0434\u043e\u0432\u043e\u0439 \u0437\u0430\u0440\u0443\u0431\u0435\u0436\u043d\u044b\u0439 \u043e\u043f\u044b\u0442 \u0438\u0445 \u043f\u0440\u0438\u043c\u0435\u043d\u0435\u043d\u0438\u044f. \u0426\u0435\u043b\u044c \u0438\u0441\u0441\u043b\u0435\u0434\u043e\u0432\u0430\u043d\u0438\u044f \u2013 \u043f\u0440\u043e\u0432\u0435\u0441\u0442\u0438 \u0441\u0440\u0430\u0432\u043d\u0438\u0442\u0435\u043b\u044c\u043d\u044b\u0439 \u0430\u043d\u0430\u043b\u0438\u0437 \u044d\u043a\u043e\u0441\u0438\u0441\u0442\u0435\u043c \u0430\u043b\u044c\u0442\u0435\u0440\u043d\u0430\u0442\u0438\u0432\u043d\u043e\u0433\u043e \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f \u0432 \u0421\u0428\u0410, \u0413\u0435\u0440\u043c\u0430\u043d\u0438\u0438, \u042e\u0436\u043d\u043e\u0439 \u041a\u043e\u0440\u0435\u0435, \u0421\u0438\u043d\u0433\u0430\u043f\u0443\u0440\u0435 \u0438 \u0434\u0440\u0443\u0433\u0438\u0445 \u0440\u0430\u0437\u0432\u0438\u0442\u044b\u0445 \u0438 \u0440\u0430\u0437\u0432\u0438\u0432\u0430\u044e\u0449\u0438\u0445\u0441\u044f \u0441\u0442\u0440\u0430\u043d\u0430\u0445, \u0432\u043a\u043b\u044e\u0447\u0430\u044f \u043a\u0440\u0430\u0443\u0434\u0444\u0430\u043d\u0434\u0438\u043d\u0433, \u043e\u0434\u043d\u043e\u0440\u0430\u043d\u0433\u043e\u0432\u043e\u0435 \u043a\u0440\u0435\u0434\u0438\u0442\u043e\u0432\u0430\u043d\u0438\u0435, \u0432\u0435\u043d\u0447\u0443\u0440\u043d\u044b\u0439 \u043a\u0430\u043f\u0438\u0442\u0430\u043b, \u0430\u043d\u0433\u0435\u043b\u044c\u0441\u043a\u0438\u0435 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438, \u0446\u0435\u043f\u043e\u0447\u043d\u043e\u0435 \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u0435 \u0438 \u0432\u043e\u0437\u043e\u0431\u043d\u043e\u0432\u043b\u044f\u0435\u043c\u044b\u0435 \u043a\u0440\u0435\u0434\u0438\u0442\u043d\u044b\u0435 \u0444\u043e\u043d\u0434\u044b. \u0412 \u0441\u0442\u0430\u0442\u044c\u0435 \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u043b\u0435\u043d\u044b \u043d\u0430\u0443\u0447\u043d\u043e \u043e\u0431\u043e\u0441\u043d\u043e\u0432\u0430\u043d\u043d\u044b\u0435 \u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0435\u043d\u0438\u044f \u043f\u043e \u0430\u0434\u0430\u043f\u0442\u0430\u0446\u0438\u0438 \u0437\u0430\u0440\u0443\u0431\u0435\u0436\u043d\u044b\u0445 \u043c\u043e\u0434\u0435\u043b\u0435\u0439 \u043a \u0443\u0441\u043b\u043e\u0432\u0438\u044f\u043c \u0423\u0437\u0431\u0435\u043a\u0438\u0441\u0442\u0430\u043d\u0430.<\/em><\/p>\n\n\n\n<p><strong><em>\u041a\u043b\u044e\u0447\u0435\u0432\u044b\u0435 \u0441\u043b\u043e\u0432\u0430:<\/em><\/strong><em> \u043c\u0430\u043b\u044b\u0439 \u0431\u0438\u0437\u043d\u0435\u0441, \u0430\u043b\u044c\u0442\u0435\u0440\u043d\u0430\u0442\u0438\u0432\u043d\u043e\u0435 \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u0435, \u043a\u0440\u0430\u0443\u0434\u0444\u0430\u043d\u0434\u0438\u043d\u0433, P2P-\u043a\u0440\u0435\u0434\u0438\u0442\u043e\u0432\u0430\u043d\u0438\u0435, \u0432\u0435\u043d\u0447\u0443\u0440\u043d\u044b\u0439 \u043a\u0430\u043f\u0438\u0442\u0430\u043b, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u0430\u044f \u0434\u043e\u0441\u0442\u0443\u043f\u043d\u043e\u0441\u0442\u044c, \u0437\u0430\u0440\u0443\u0431\u0435\u0436\u043d\u044b\u0439 \u043e\u043f\u044b\u0442.<\/em><\/p>\n\n\n\n<p><strong>ADVANCED FOREIGN EXPERIENCES IN ALTERNATIVE FINANCING OF SMALL BUSINESSES<\/strong><strong><\/strong><\/p>\n\n\n\n<p><strong><em>Umarova Gulzodakhan Kadyrbekovna<\/em><\/strong><em><\/em><\/p>\n\n\n\n<p><em>Senior Lecturer<\/em><\/p>\n\n\n\n<p><em>Andijan Faculty<\/em><\/p>\n\n\n\n<p><em>Tashkent State<\/em><\/p>\n\n\n\n<p><em>University of Economics<\/em><\/p>\n\n\n\n<p><em>E-mail:<\/em><strong><em> <\/em><\/strong><a href=\"mailto:rustamjonumarov252@gmail.com\"><em>rustamjonumarov252<\/em><em>@gmail.com<\/em><\/a><em><\/em><\/p>\n\n\n\n<p><em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ORCID:<\/em><em>0009-0000-8859-4840<\/em><\/p>\n\n\n\n<p><strong><em>Abstract. <\/em><\/strong><em>This article examines alternative financing mechanisms for small businesses (SB) and the advanced foreign experiences in their application. The study provides a comparative analysis of alternative financing ecosystems in the USA, Germany, South Korea, Singapore and other developed and developing countries, including crowdfunding, peer-to-peer (P2P) lending, venture capital, angel investment, supply chain finance and revolving credit funds. The article presents scientifically grounded recommendations for adapting foreign models to Uzbekistan\u2019s conditions.<\/em><\/p>\n\n\n\n<p><strong><em>Keywords: <\/em><\/strong><em>small business, alternative financing, crowdfunding, P2P lending, venture capital, financial inclusion, foreign experience, Uzbekistan.<\/em><\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/fintech.tsue.uz\/wp-content\/uploads\/2026\/06\/24.-\u0423\u043c\u0430\u0440\u043e\u0432\u0430-\u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d-\u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430-\u041a\u0438\u0447\u0438\u043a-\u0431\u0438\u0437\u043d\u0435\u0441\u043d\u0438-\u043c\u0443\u049b\u043e\u0431\u0438\u043b-\u043c\u043e\u043b\u0438\u044f\u043b\u0430\u0448\u0442\u0438\u0440\u0438\u0448\u043d\u0438\u043d\u0433-\u0438\u043b\u0493\u043e\u0440-\u0445\u043e\u0440\u0438\u0436\u0438\u0439-\u0442\u0430\u0436\u0440\u0438\u0431\u0430\u043b\u0430\u0440\u0438.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of 24. \u0423\u043c\u0430\u0440\u043e\u0432\u0430 \u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d \u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430 - \u041a\u0438\u0447\u0438\u043a \u0431\u0438\u0437\u043d\u0435\u0441\u043d\u0438 \u043c\u0443\u049b\u043e\u0431\u0438\u043b \u043c\u043e\u043b\u0438\u044f\u043b\u0430\u0448\u0442\u0438\u0440\u0438\u0448\u043d\u0438\u043d\u0433 \u0438\u043b\u0493\u043e\u0440 \u0445\u043e\u0440\u0438\u0436\u0438\u0439 \u0442\u0430\u0436\u0440\u0438\u0431\u0430\u043b\u0430\u0440\u0438.\"><\/object><a id=\"wp-block-file--media-f6b9533f-7a78-487c-a0aa-a1ca13875385\" href=\"https:\/\/fintech.tsue.uz\/wp-content\/uploads\/2026\/06\/24.-\u0423\u043c\u0430\u0440\u043e\u0432\u0430-\u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d-\u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430-\u041a\u0438\u0447\u0438\u043a-\u0431\u0438\u0437\u043d\u0435\u0441\u043d\u0438-\u043c\u0443\u049b\u043e\u0431\u0438\u043b-\u043c\u043e\u043b\u0438\u044f\u043b\u0430\u0448\u0442\u0438\u0440\u0438\u0448\u043d\u0438\u043d\u0433-\u0438\u043b\u0493\u043e\u0440-\u0445\u043e\u0440\u0438\u0436\u0438\u0439-\u0442\u0430\u0436\u0440\u0438\u0431\u0430\u043b\u0430\u0440\u0438.pdf\">24. \u0423\u043c\u0430\u0440\u043e\u0432\u0430 \u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d \u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430 &#8211; \u041a\u0438\u0447\u0438\u043a \u0431\u0438\u0437\u043d\u0435\u0441\u043d\u0438 \u043c\u0443\u049b\u043e\u0431\u0438\u043b \u043c\u043e\u043b\u0438\u044f\u043b\u0430\u0448\u0442\u0438\u0440\u0438\u0448\u043d\u0438\u043d\u0433 \u0438\u043b\u0493\u043e\u0440 \u0445\u043e\u0440\u0438\u0436\u0438\u0439 \u0442\u0430\u0436\u0440\u0438\u0431\u0430\u043b\u0430\u0440\u0438<\/a><a href=\"https:\/\/fintech.tsue.uz\/wp-content\/uploads\/2026\/06\/24.-\u0423\u043c\u0430\u0440\u043e\u0432\u0430-\u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d-\u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430-\u041a\u0438\u0447\u0438\u043a-\u0431\u0438\u0437\u043d\u0435\u0441\u043d\u0438-\u043c\u0443\u049b\u043e\u0431\u0438\u043b-\u043c\u043e\u043b\u0438\u044f\u043b\u0430\u0448\u0442\u0438\u0440\u0438\u0448\u043d\u0438\u043d\u0433-\u0438\u043b\u0493\u043e\u0440-\u0445\u043e\u0440\u0438\u0436\u0438\u0439-\u0442\u0430\u0436\u0440\u0438\u0431\u0430\u043b\u0430\u0440\u0438.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-f6b9533f-7a78-487c-a0aa-a1ca13875385\">Download<\/a><\/div>\n\n\n\n<p><strong>Adabiyotlar ro\u2018yxati<\/strong><\/p>\n\n\n\n<p>1. Beck, T., &amp; Demirguc-Kunt, A. (2006). Small and medium-size enterprises: Access to finance as a growth constraint. Journal of Banking &amp; Finance, 30(11), 2931\u20132943. https:\/\/doi.org\/10.1016\/j.jbankfin.2006.05.009<\/p>\n\n\n\n<p>2. Belleflamme, P., Lakichik biznesert, T., &amp; Schwienbacher, A. (2014). Crowdfunding: Tapping the right crowd. Journal of Business Venturing, 29(5), 585\u2013609. https:\/\/doi.org\/10.1016\/j.jbusvent.2013.07.003<\/p>\n\n\n\n<p>3. Berger, A. N., &amp; Gleisner, F. (2009). Emergence of financial intermediaries in electronic markets: The case of online P2P lending. BuR Business Research, 2(1), 39\u201365.<\/p>\n\n\n\n<p>4. Cambridge Centre for Alternative Finance (CCAF). (2023). The Global Alternative Finance Market Benchmarking Report 2023. University of Cakichik biznesridge Judge Business School.<\/p>\n\n\n\n<p>5. Emekter, R., Tu, Y., Jirasakuldech, B., &amp; Lu, M. (2015). Evaluating credit risk and loan performance in online peer-to-peer (P2P) lending. Applied Economics, 47(1), 54\u201370.<\/p>\n\n\n\n<p>6. KfW Bankengruppe. (2023). KfW Annual Report 2023: Promoting the Future. Frankfurt am Main: KfW Group.<\/p>\n\n\n\n<p>7. KOSME (Korea SME and Startups Agency). (2023). 2023 SME &amp; Startup Support Yearbook. Seoul: KOSME.<\/p>\n\n\n\n<p>8. Mollick, E. (2014). The dynamics of crowdfunding: An exploratory study. Journal of Business Venturing, 29(1), 1\u201316. https:\/\/doi.org\/10.1016\/j.jbusvent.2013.06.005<\/p>\n\n\n\n<p>9. OECD. (2020). Alternative Financing Instruments for SMEs and Entrepreneurs: The Case of Land and Buildings. Paris: OECD Publishing. https:\/\/doi.org\/10.1787\/f0c61b55-en<\/p>\n\n\n\n<p>11. World Bank. (2023). SME Finance: Gap Analysis and Policy Options. Washington, DC: World Bank Group.<\/p>\n\n\n\n<p>12. https:\/\/stat.uz\/uz\/rasmiy-statistika<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u0423\u043c\u0430\u0440\u043e\u0432\u0430 \u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d \u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430 \u043a\u0430\u0442\u0442\u0430 \u045e\u049b\u0438\u0442\u0443\u0432\u0447\u0438 \u0410\u043d\u0434\u0438\u0436\u043e\u043d \u0444\u0430\u043a\u0443\u043b\u044c\u0442\u0435\u0442\u0438 &nbsp;\u0422\u043e\u0448\u043a\u0435\u043d\u0442 \u0434\u0430\u0432\u043b\u0430\u0442 \u0438\u049b\u0442\u0438\u0441\u043e\u0434\u0438\u0451\u0442 \u0443\u043d\u0438\u0432\u0435\u0440\u0441\u0438\u0442\u0435\u0442\u0438 &nbsp;E-mail: rustamjonumarov252@gmail.com ORCID:0009-0000-8859-4840 Annotatsiya. Ushbu maqolada kichik biznes subyektlarini muqobil moliyalashtirish mexanizmlari va ularning xorijiy ilg\u2018or tajribalari o\u2018rganilgan. Tadqiqot AQSh, Germaniya, Janubiy&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-1662","post","type-post","status-publish","format-standard","hentry","category-2026-yil-3-son"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418 - \u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fintech.tsue.uz\/?p=1662\" \/>\n<meta property=\"og:locale\" content=\"uz_UZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418 - \u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali\" \/>\n<meta property=\"og:description\" content=\"\u0423\u043c\u0430\u0440\u043e\u0432\u0430 \u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d \u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430 \u043a\u0430\u0442\u0442\u0430 \u045e\u049b\u0438\u0442\u0443\u0432\u0447\u0438 \u0410\u043d\u0434\u0438\u0436\u043e\u043d \u0444\u0430\u043a\u0443\u043b\u044c\u0442\u0435\u0442\u0438 &nbsp;\u0422\u043e\u0448\u043a\u0435\u043d\u0442 \u0434\u0430\u0432\u043b\u0430\u0442 \u0438\u049b\u0442\u0438\u0441\u043e\u0434\u0438\u0451\u0442 \u0443\u043d\u0438\u0432\u0435\u0440\u0441\u0438\u0442\u0435\u0442\u0438 &nbsp;E-mail: rustamjonumarov252@gmail.com ORCID:0009-0000-8859-4840 Annotatsiya. Ushbu maqolada kichik biznes subyektlarini muqobil moliyalashtirish mexanizmlari va ularning xorijiy ilg\u2018or tajribalari o\u2018rganilgan. Tadqiqot AQSh, Germaniya, Janubiy&#046;&#046;&#046;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fintech.tsue.uz\/?p=1662\" \/>\n<meta property=\"og:site_name\" content=\"\u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-25T17:44:18+00:00\" \/>\n<meta name=\"author\" content=\"fintex-admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"fintex-admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 daqiqa\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662\"},\"author\":{\"name\":\"fintex-admin\",\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/#\\\/schema\\\/person\\\/23c74e51ed62b86e6d0bd0648490066b\"},\"headline\":\"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418\",\"datePublished\":\"2026-06-25T17:44:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662\"},\"wordCount\":631,\"commentCount\":0,\"articleSection\":[\"2026-yil 3-son\"],\"inLanguage\":\"uz-UZ\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662\",\"url\":\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662\",\"name\":\"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418 - \u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/#website\"},\"datePublished\":\"2026-06-25T17:44:18+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/#\\\/schema\\\/person\\\/23c74e51ed62b86e6d0bd0648490066b\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662#breadcrumb\"},\"inLanguage\":\"uz-UZ\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/?p=1662#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/fintech.tsue.uz\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/#website\",\"url\":\"https:\\\/\\\/fintech.tsue.uz\\\/\",\"name\":\"\u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali\",\"description\":\"Toshkent davlat iqtisodiyot universiteti\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/fintech.tsue.uz\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"uz-UZ\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/fintech.tsue.uz\\\/#\\\/schema\\\/person\\\/23c74e51ed62b86e6d0bd0648490066b\",\"name\":\"fintex-admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"uz-UZ\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6b71c6402c74a04f56841f06d0b413c68efbbcbc10d903ef02a5db2c123944a4?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6b71c6402c74a04f56841f06d0b413c68efbbcbc10d903ef02a5db2c123944a4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6b71c6402c74a04f56841f06d0b413c68efbbcbc10d903ef02a5db2c123944a4?s=96&d=mm&r=g\",\"caption\":\"fintex-admin\"},\"sameAs\":[\"http:\\\/\\\/fintech.tfi.uz\"],\"url\":\"https:\\\/\\\/fintech.tsue.uz\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418 - \u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fintech.tsue.uz\/?p=1662","og_locale":"uz_UZ","og_type":"article","og_title":"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418 - \u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali","og_description":"\u0423\u043c\u0430\u0440\u043e\u0432\u0430 \u0413\u0443\u043b\u0437\u043e\u0434\u0430\u0445\u043e\u043d \u049a\u043e\u0434\u0438\u0440\u0431\u0435\u043a\u043e\u0432\u043d\u0430 \u043a\u0430\u0442\u0442\u0430 \u045e\u049b\u0438\u0442\u0443\u0432\u0447\u0438 \u0410\u043d\u0434\u0438\u0436\u043e\u043d \u0444\u0430\u043a\u0443\u043b\u044c\u0442\u0435\u0442\u0438 &nbsp;\u0422\u043e\u0448\u043a\u0435\u043d\u0442 \u0434\u0430\u0432\u043b\u0430\u0442 \u0438\u049b\u0442\u0438\u0441\u043e\u0434\u0438\u0451\u0442 \u0443\u043d\u0438\u0432\u0435\u0440\u0441\u0438\u0442\u0435\u0442\u0438 &nbsp;E-mail: rustamjonumarov252@gmail.com ORCID:0009-0000-8859-4840 Annotatsiya. Ushbu maqolada kichik biznes subyektlarini muqobil moliyalashtirish mexanizmlari va ularning xorijiy ilg\u2018or tajribalari o\u2018rganilgan. Tadqiqot AQSh, Germaniya, Janubiy&#46;&#46;&#46;","og_url":"https:\/\/fintech.tsue.uz\/?p=1662","og_site_name":"\u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali","article_published_time":"2026-06-25T17:44:18+00:00","author":"fintex-admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"fintex-admin","Est. reading time":"3 daqiqa"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fintech.tsue.uz\/?p=1662#article","isPartOf":{"@id":"https:\/\/fintech.tsue.uz\/?p=1662"},"author":{"name":"fintex-admin","@id":"https:\/\/fintech.tsue.uz\/#\/schema\/person\/23c74e51ed62b86e6d0bd0648490066b"},"headline":"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418","datePublished":"2026-06-25T17:44:18+00:00","mainEntityOfPage":{"@id":"https:\/\/fintech.tsue.uz\/?p=1662"},"wordCount":631,"commentCount":0,"articleSection":["2026-yil 3-son"],"inLanguage":"uz-UZ","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fintech.tsue.uz\/?p=1662#respond"]}]},{"@type":"WebPage","@id":"https:\/\/fintech.tsue.uz\/?p=1662","url":"https:\/\/fintech.tsue.uz\/?p=1662","name":"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418 - \u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali","isPartOf":{"@id":"https:\/\/fintech.tsue.uz\/#website"},"datePublished":"2026-06-25T17:44:18+00:00","author":{"@id":"https:\/\/fintech.tsue.uz\/#\/schema\/person\/23c74e51ed62b86e6d0bd0648490066b"},"breadcrumb":{"@id":"https:\/\/fintech.tsue.uz\/?p=1662#breadcrumb"},"inLanguage":"uz-UZ","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fintech.tsue.uz\/?p=1662"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fintech.tsue.uz\/?p=1662#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fintech.tsue.uz\/"},{"@type":"ListItem","position":2,"name":"\u041a\u0418\u0427\u0418\u041a \u0411\u0418\u0417\u041d\u0415\u0421\u041d\u0418 \u041c\u0423\u049a\u041e\u0411\u0418\u041b \u041c\u041e\u041b\u0418\u042f\u041b\u0410\u0428\u0422\u0418\u0420\u0418\u0428\u041d\u0418\u041d\u0413 \u0418\u041b\u0492\u041e\u0420 \u0425\u041e\u0420\u0418\u0416\u0418\u0419 \u0422\u0410\u0416\u0420\u0418\u0411\u0410\u041b\u0410\u0420\u0418"}]},{"@type":"WebSite","@id":"https:\/\/fintech.tsue.uz\/#website","url":"https:\/\/fintech.tsue.uz\/","name":"\u201cMoliyaviy texnologiyalar\u201d ilmiy elektron jurnali","description":"Toshkent davlat iqtisodiyot universiteti","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fintech.tsue.uz\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"uz-UZ"},{"@type":"Person","@id":"https:\/\/fintech.tsue.uz\/#\/schema\/person\/23c74e51ed62b86e6d0bd0648490066b","name":"fintex-admin","image":{"@type":"ImageObject","inLanguage":"uz-UZ","@id":"https:\/\/secure.gravatar.com\/avatar\/6b71c6402c74a04f56841f06d0b413c68efbbcbc10d903ef02a5db2c123944a4?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6b71c6402c74a04f56841f06d0b413c68efbbcbc10d903ef02a5db2c123944a4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6b71c6402c74a04f56841f06d0b413c68efbbcbc10d903ef02a5db2c123944a4?s=96&d=mm&r=g","caption":"fintex-admin"},"sameAs":["http:\/\/fintech.tfi.uz"],"url":"https:\/\/fintech.tsue.uz\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=\/wp\/v2\/posts\/1662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1662"}],"version-history":[{"count":1,"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=\/wp\/v2\/posts\/1662\/revisions"}],"predecessor-version":[{"id":1664,"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=\/wp\/v2\/posts\/1662\/revisions\/1664"}],"wp:attachment":[{"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fintech.tsue.uz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}