FOREIGN EXPERIENCE IN DEVELOPING SMALL BUSINESS AND PRIVATE ENTREPRENEURSHIP IN THE 21ST CENTURY: LITERATURE REVIEW

Abstract

This paper presents a comprehensive literature review on the development of small business and private entrepreneurship in the 21st century, focusing on foreign experiences and practices. It explores the key factors, strategies, and policies that have contributed to the growth of small businesses and entrepreneurial ventures globally. By analyzing successful case studies from developed and developing economies, the paper highlights innovative approaches to financing, digital transformation, regulatory frameworks, and capacity building. The findings provide valuable insights for policymakers, academics, and entrepreneurs seeking to foster sustainable economic growth through the promotion of small business and private enterprise..