Share of SMEs in Kazakhstan to Be Increased to 35% in 10 Years

Kazakhstan is planning to increase the share of small-and-medium enterprises (SMEs) from 29% of the country’s GDP to 35% in 10 years.

The Government is offering various support platform for businesses such as low-interest rate loans and non-repayable grants.

Currently, there are over 125,000 SMEs in the Kazakh capital, Nur-Sultan, that are involved in different economic sectors such as retail, trade and light industry.

“As part of the Business Roadmap 2020 program, we have announced a competition of new business ideas among the SMEs. It is aimed to provide state grants of up to three million tenge. The applications can be submitted until May 24th,” said Head of Entrepreneurship Department of Nur-Sultan Mayor’s office, Adlet Tlepov.

Meanwhile, the share of SME in Almaty has increased by more than 40% in the first quarter of this year.

The Government is planning to allocate 800 grants under the Yenbek program. Atameken National Chamber of Entrepreneur’s expert, Tynyshkali Saben said that young entrepreneurs who are planning to start their business in the Year of Youth will be provided with special grants.

“The entrepreneurs need to submit an application to the Employment Center, register themselves as entrepreneurs and undergo three-month training. They will be assisted by the Entrepreneurs’ Assistance Center,” he added.

In Aktobe region, the share of SME has increased 4.8% this year with 67,000 businesses registered. The businesses have provided a total of 139,000 employments.

Head of Entrepreneurship department in Aktobe region, Gulshat Berkaliyeva said that there are various programs such as the Business Roadmap 2020 and Yenbek Productive Employment and Mass Entrepreneurship Program being implemented in the region.

This year, she said more than seven billion tenge will be allocated for the implementation of the programs.