The impact of the financing mechanism of financial development institutions on the entrepreneurship in Kazakhstan

Abstract

The article examines the financial institution of development, which directly affects the prosperity of entrepreneurship in Kazakhstan. Based on our research, an analysis of the development of entrepreneurial activity in Kazakhstan is provided, funded by a financial development institute of this level. During the research, the impact of this national institution on stimulating the medium and small businesses’ development was assessed, financial support’s key mechanisms and tools provided
to entrepreneurs were also considered. The results obtained may well be used to prepare proposals for improving financial support for entrepreneurship. The research is based on real statistical data. The authors conducted a comprehensive analysis of the structure and quality of funds of financial development institutions in the Republic of Kazakhstan allocated to small and medium-sized enterprises. The most important aspect of the study is the analysis of the use of funds’ effectiveness in economy’s favor. Based on the analysis, the article shows the effective use of financial resources to strengthen entrepreneurial positions in the state and improve financial mechanisms. This leads to a decrease in social and economic differences in the country, and sustainable economic growth.