The financial climate for the development of small and medium businesses in Kazakhstan

Abstract

World experience in the development of small and medium-sized businesses shows that
one of the most significant barriers to its operation can be an unfavorable financial climate. This paper
aims to identify the level of availability of financial resources for small and medium-sized businesses in
Kazakhstan. The availability of financial resources for small and medium-sized businesses in Kazakhstan,
on the basis of critical analysis identifies key problems such as high bank interest on loans, availability of
collateral, restrictions and bureaucracy when receiving financial assistance from the state.
The analysis showed that the most effective mechanism of financial support is microcredit. At
the end of the study, the author suggests a vision of solving existing problems to improve the financial
climate, which is inextricably linked with the introduction of financial and credit mechanisms for “smart
regulation” of the business sector.