EFFICIENCY OF STATE PROMOTION OF SMALL AND MEDIUM ENTREPRENEURSHIP IN KAZAKHSTAN IN POST- COVID SITUATION

The global pandemic, which has engulfed the entire world and all sectors of activity, has undeniably exerted a negative impact on the economic development of all nations. This impact has not spared small and medium-sized businesses, in addition to larger enterprises.

In response to the economic challenges faced by small-scale enterprises, governmental authorities have initiated comprehensive support measures, encompassing both financial and humanitarian assistance. However, upon closer examination, these measures reveal certain shortcomings and inadequacies.

The declaration of a state of emergency and the enforcement of quarantine measures within Kazakhstan have had detrimental consequences for the commercial landscape. Approximately 300,000 business establishments temporarily halted their operations, while the adverse effects of the pandemic were directly felt by approximately 1 million business entities, with a predominant concentration in the service and trade sectors.

Furthermore, a subset of the business community, approximately 14,000 to 15,000 establishments, that had previously obtained loans from second-tier financial institutions, sought relief through deferment mechanisms.

The fundamental problems of business remain the lack of access to finance and loans, and those that are available are offered by banks at exorbitant rates.

In summary, while governmental efforts to alleviate the economic impacts of the pandemic are commendable, a critical analysis reveals areas where improvements may be necessary. A more comprehensive and effective approach may be required to address the profound economic challenges encountered by businesses and individuals within Kazakhstan. The principal characteristic of the entrepreneurial environment within the Republic of Kazakhstan resides in the division of the country, based on its geographical structure, into distinct macro-regions characterized by divergent resource endowments and economic attributes. Consequently, Kazakhstan exhibits heterogeneity in its business activities.

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