Determinants of business development and the significance of statistical analysis

This study examines business development drivers—strategic planning, market dynamics, human capital, technological innovation, and regulatory frameworks—across Germany, Georgia, Russia, China, India, and Uzbekistan. Using quantitative methods (panel regression, SEM, GMM) on 2010–2020 data from World Bank, IMF, and national sources, it reveals varied impacts: innovation and human capital dominate in Germany and China, while regulatory reforms and planning boost India and Georgia. Uzbekistan shows potential for growth via human capital and innovation. The findings emphasize statistical rigor in understanding business development.