Psychological barriers and entrepreneurial uncertainty in developing countries (the case of Uzbekistan): a view through observation and practice

  • Skyseven Invest, Tashkent, Uzbekistan

DOI

https://doi.org/10.47689/2181-1415-vol6-iss6/S-pp175-186

Keywords

entrepreneurial psychology , fear of failure , risk aversion , transition economy , Uzbekistan , entrepreneurial mindset

Abstract

The article explores psychological barriers impeding entrepreneurial activity development in transition economies, using Uzbekistan as a case study. The research aims to identify how psychological factors contribute to entrepreneurs' uncertainty and affect their willingness to start or expand businesses. The study employs a qualitative approach based on case analysis and observation of discussions in a specialized Telegram channel. Results indicate that key barriers include fear of failure, low self-confidence, and culturally and socially conditioned risk aversion. In the Uzbek context, preference for stable employment and negative attitudes towards entrepreneurial failures exacerbate feelings of insecurity. The study concludes that targeted measures - such as educational programs, mentoring, and the development of support communities - are necessary to overcome these barriers. Such initiatives can foster the formation of a more resilient and dynamic entrepreneurial sector.

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References

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Psychological barriers and entrepreneurial uncertainty in developing countries (the case of Uzbekistan): a view through observation and practice

How to Cite

Dadamukhamedov, S. (2025). Psychological barriers and entrepreneurial uncertainty in developing countries (the case of Uzbekistan): a view through observation and practice. Society and Innovation, 6(6/S), 175–186. https://doi.org/10.47689/2181-1415-vol6-iss6/S-pp175-186