Representatives of Legislative Chamber, Cabinet of Ministers, ministries and departments, Chamber of Commerce and Industry of Uzbekistan, NGOs and others participated at the event.

The draft law “On family entrepreneurship” was developed by the Cabinet of Ministers of Uzbekistan and it was submitted to the Legislative Chamber on 29 September 2011.

Participants of the seminar said that family entrepreneurship is the most ancient and advanced from of doing business and in many countries it makes up 70% of economic growth and jobs.

The draft law is aimed at creating necessary legislative base for developing family entrepreneurship in various spheres of economy as important form of small and private entrepreneurship, strengthening legal guarantees for family business and creating new jobs. The family entrepreneurship is fully meets national traditions of doing business and realities of Uzbekistan.

Participants of the workshop paid attention that in line with the draft law, family entrepreneurship is considered as separate organizational-legal form of business entity, conducted by family enterprise, created on general or share property of family members and their participation.

According to the draft law, family enterprise is formed based on constitutive agreement, signed among members of family and it should show mandatory personal labour participation in family enterprises, as well as list of general or share property. The participants can also show terms of net income distribution in the constitutive agreement. The state registration of family enterprise is carried out based on notice principle in simplified order based on application and constitutive agreement.

The law sets types of businesses, in which they can operate, regulates mechanism of registration and liquidation of family enterprise, use of utilities, accounting and taxing issues.

Participants of the workshop discussed draft law “On family entrepreneurship” and gave their recommendations and proposals, directed at improving the document.