BANK LENDING AS A FACTOR IN THE DEVELOPMENT OF SMALL AND MEDIUM-SIZED BUSINESSES IN KAZAKHSTAN

Abstract

In modern conditions, one of the urgent tasks of the Republic of Kazakhstan is to maximise the development of small and medium-sized businesses. Small and medium business has a direct impact on the economic well-being of the state. And it largely depends on solving the problems of employment, filling the domestic market with domestic goods, replenishing the state budget and creating a competitive environment. The development of small and medium-sized businesses is a key tool for economic growth and socio-political modernisation.
 This article examines the dynamics of small and medium-sized business development in Kazakhstan, including indicators such as the contribution of small and medium-sized businesses to the country's gross domestic product, the number of small and medium-sized businesses registered and operating, and the number of people employed in this area, and analyses small and medium-sized businesses lending by second-tier banks for 2018-2020, which covers the period before the pandemic and during the pandemic. During the period of restrictive measures, the state provided support to small and medium-sized businesses in the form of tax exemptions, interest relief on loans previously obtained by businesses, and relief on rent payments. However, despite this, problems have been identified in this aspect. In order to eliminate the identified problems of small and medium-sized business lending, prospective directions for further development of small and medium-sized enterprises in the Republic of Kazakhstan have been developed.