Tleukhanov Magzhan Entrepreneurship in Republic of Kazakhstan. Economic and legal conditions. Problems of development. University of International Business, Finance 752, International Business course. E: fin 752@mail. ru
Beginning of Entrepreneurship activity in Kazakhstan Union, After the collapse of Soviet in brand-new independent Kazakhstan, some people made an important and difficult decision to become entrepreneurs. It was really harsh time: in economy the state ownership prevailed and completely there was no legislative base for development of the market relations. 02 University of International Business, Finance 752, International Business course. E: fin 752@mail. ru
Current Situation Small and medium business (SME) of Kazakhstan is presented today by 695 635 enterprises for October, 2011. Despite crisis, SME of Kazakhstan shows annual growth. According to data of national agency statistically, only during 2010 -2011 the number of actively operating 03 SME increased on 4. 2. %. The University of International Business, Finance 752, International Business course. E: fin 752@mail. ru
Infrastructure of support of business Within development of the Kazakhstan business, the government created many funds, whose purpose is rendering the financial and advisory help to business. Since 1997 they work in Kazakhstan helping entrepreneurs to start and broaden their businesses. University of International Business, Finance 752, International Business course. E: fin 752@mail. ru 04
05 University of International Business, Finance 752, International Business course. E: fin 752@mail. ru
Problems of Entrepreneurship The main problems of business is prevalence of raw export, a low share of SME in GDP of Kazakhstan. Also, experts mark out a number of the factors which are slowing down development of MSP in Kazakhstan: weak knowledge of the population, high credit rates for business, administrative barriers, etc. University of International Business, Finance 752, International Business course. E: fin 752@mail. ru 06
Human Factor Problems Having raised in USSR, many citizens have bad view on entrepreneurship activity and they were brought up in society where being a Leader is considered as not right, therefore some people are afraid to open businesses. University of International Business, Finance 752, International Business course. E: fin 752@mail. ru 07
Legal Conditions To legalize the relations with the state, clients, contractors, etc. , you have to register the legal entity according to the current legislation of the Republic of Kazakhstan (to make enterprise registration). 08 University of International Business, Finance 752, International Business course. E: fin 752@mail. ru
Positive Moments for Entrepreneurship in Kazakhstan In the recent years, Kazakhstan has emerged as a booming economy with an enviable record of economic growth. This impressive economic development demonstrates the country’s success in its smooth transition to a market economy. University of International Business, Finance 752, International Business course. E: fin 752@mail. ru 09
Conclusion Small business has already become a rather powerful sector in the development of economy of modern Kazakhstan, however, it is felt to need appropriate governmental support due to the specificity of this sector of economy. The question Kazakhstan must grapple with is what is appropriate government support, as the private sector generally creates economic growth. University of International Business, Finance 752, International Business course. E: fin 752@mail. ru 10
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