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Saturday, August 24th, 2019

Share of SMEs in GDP amounted to 28.3% in 2018 – Ministry of National Economy on implementation of Business Roadmap 2020


The main objectives of the state program Business Roadmap 2020 are ensuring stable and balanced growth of regional entrepreneurship, supporting existing business and creating new permanent jobs.

For the four years of the program, 210.5 billion tenge was allocated from the republican budget. These funds made it possible to finance 13 thousand SMEs, train an average of 20 thousand entrepreneurs annually, create 10 thousand jobs, produce goods for 3.3 trillion tenge. The amount of taxes paid amounted to 175 billion tenge annually.

“In general, over the four years of implementation of the program, support was provided to 13,380 projects for 247.1 billion tenge from the republican and local budgets,” said the vice minister.

Most of the allocated funds were used to subsidize interest rates on loans (126 billion tenge, or 60.1% of the total amount). 53 billion tenge, or 25.2%, is aimed at bringing the missing infrastructure to factories, plants and production facilities of SMEs. The rest was directed to guaranteeing loans, providing grants, training, and providing consulting services to entrepreneurs. The demand for program tools is very high.

As a result of these measures, the importance of SMEs in the economy has increased. So, in 2015, the share of SMEs in GDP was 24.9%, by the end of 2018 � 28.3%. Compared to 2015, the participation of small and mediumsized entrepreneurs in the country’s economy increased by 3.4 percentage points.

At the end of 2018, the output of SMEs amounted to more than 26 trillion tenge. Moreover, the fifth part of the structure of production falls on the share of industry.

In general, in 2018, the growth of production in the country in real terms amounted to 114% (or 26.5 trillion tenge) from the 2015 level.

As of Jan. 1, 2019, the number of small and mediumsized businesses was 1.2 million. Compared with the same period last year, this figure grew by 8.3%.

Also, the Vice Minister Alpyssov informed about the development of small and mediumsized businesses in the first quarter of 2019. A total of 715 projects were supported during this period.

Local executive bodies will start issuing grants in the second half of the year following the results of competitive procedures.

In 2019, 15 billion infrastructure projects were provided for 15 infrastructure projects. Projects are under implementation.

An important direction of the Business Road Map 2020 is the strengthening of entrepreneurial potential. This direction includes a set of projects on training in the basics of doing business, improving the competence of small and medium businesses, consulting support for potential and startup entrepreneurs. The consultation explains how to develop business plans, pay taxes, submit declarations, contact banks, obtain licenses, and so on.

Thus, annually about 20 thousand entrepreneurs will be trained and increase their competencies, on average 154 thousand entrepreneurs will receive consulting (110 thousand) and service (44 thousand) services annually.

Following the results of the first quarter of the year, 6,135 students were trained in the basics of entrepreneurship in a business school. In the business support centers more than 36 thousand consultations were provided to 19.5 thousand clients on measures of state support of business, about 8 thousand services were provided to 7 thousand entrepreneurs.

Source: The Prime Minister of Kazakhstan