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Small and Medium Business in Kazakhstan

Journal: International Journal of Business Management & Research (IJBMR) (Vol.3, No. 5)

Publication Date:

Authors : ;

Page : 69-84

Keywords : Business; Market; Economy; Financial System; Industrial; Commercial;

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In the majority of the world countries the growth of small and medium business is of great importance for development of the whole economy and increase of its efficiency. Small and medium enterprises are the base of economy, and in the perspective it is the steadiest part, only with development of small and medium business the construction of stable functioning market economy is possible. Small and medium business (SMB) is a mobile and productive sector of economy. It really creates a considerable share of gross domestic product and the most part of the working population is involved in it. It is important not only for industrially developed states, but also for the countries with a transitional economy. The role of SMB is great not only by quantity, but also by function, otherwise, by those problems that are solved by SMB in economy, namely - middle class formation - the main guarantor of political stability in a democratic society, creation of new workplaces with rather low capital expenses, liquidation of monopoly of manufacturers, creation of the competitive environment. Support of SMB is the support of market, and a competitive economy as a whole. The sector of small and medium business is the tool of regulation of the unemployment that are important social and economic issues in economy. Employment issues, possibility of their solutions, including by development of small business, are rather actual as the employment problem is rather sharp in the market economy. The occupation level appreciably defines the volume of cumulative labour fund that the country has, and accordingly defines the size of the total domestic product that the national economy can conduct. During the speech at the official meeting devoted to the 17th anniversary of independence declaration in the Republic of Kazakhstan the President of the Republic, Nazarbaev N.A. said the following: “We should increase essentially a share of small and medium business in the economy structure bringing it to the level of medium developed European countries. And then it will be easier to resist to the next crisis cycles. For every Kazakhstan person there should be possibilities to perform new business, to start new business or to expand the field of activity”. Now in Strategy of industrial and innovative development till 2015, the state policy of support and development of small and medium business is considered and the new ideology of mutual relations of the state and business is built by the main objective which increases the competitiveness of the country. These words prove the urgency of the effective development of SMB and Kazakhstan at the modern stage. The goal of the research is to analyze the condition of small and medium business in Kazakhstan, to study the issues and to reveal the perspectives of small and medium business development. For the solution of the arisen goal it is necessary to define the objectives of the research: ? To reveal the economic essence, meaning and regulating of SMB entities in the Republic of Kazakhstan; International Journal of Business Management & Research (IJBMR) ISSN(P): 2249-6920; ISSN(E): 2249-8036 Vol. 3, Issue 5, Dec 2013, 69-84 © TJPRC Pvt. Ltd. 70 Oteshova Almagul Kairgalievna ? To analyze the condition and development of SMB field in Kazakhstan; ? To identify the main issues of SMB development and the ways of solutions considering the experience of foreign countries. The subject of the research is the sector of SMB in Kazakhstan. The methodological and theoretical basis of the research was made by proceedings of Kazakhstan and foreign scientists in the field of economic theory, taxes and the taxation, macroeconomic, micro-economics, finance and crediting, state regulation and economic statistics. The informational base of the research was made up by the system of regulatory legal acts of the legislation of the Republic of Kazakhstan regarding business, state regulation of small and medium business, data of Statistic Agency of the Republic of Kazakhstan, reports of the Government of the Republic on a current status of business, research of International Currency Fund in the field of small and medium business in the Republic of Kazakhstan, and also government programs of business support. The information base for tables, diagrams and graphs in the text of the thesis is the statistical data of Ministry of Finance of the Republic of Kazakhstan and Kazakhstan Statistic Agency.

Last modified: 2013-12-03 20:54:38