Small enterprises in Uzbekistan’s capital are announcing their closure. The number of posts on social media about the closure of stores, cafes, restaurants, and photo studios is growing. Owners cite a sharp decline in profitability amid rising costs as the main reasons, Tashkent Today reported.
The key factors putting pressure on businesses are rising rental costs, rising land taxes, and rising utility rates. Under these circumstances, many entrepreneurs are choosing to close their businesses to avoid operating at a loss.
A similar trend has already begun to emerge in other regions of the country.
