USING ENGINEERING MODELS TO MEASURE SME RISKS IN UZBEKISTAN

Abstract

Small and medium-sized enterprises in Uzbekistan operate under conditions of economic
variability, ongoing regulatory updates, and evolving market dynamics. At the same time, there is a need to
further enhance effective tools that enable systematic and quantitative assessment of external environmental
factors for these enterprises. This article proposes an engineering-based approach that considers the business
environment as a system consisting of input factors, transformation processes, and output indicators. Within
the study, an integrated risk index is developed, combining economic, institutional, and market factors in a
coherent framework. The methodology is based on system analysis, comparative evaluation of international
indicators, and conceptual modeling. The proposed model facilitates a deeper understanding of environmental
changes and serves as a practical tool for strategic decision-making in small businesses.