Abstract
The article investigates the contribution of women’s entrepreneurship to human capital formation and inclusive growth in Kazakhstan. The purpose is to assess the current landscape of women’s participation in business, identify regulatory, institutional and market barriers, and propose context-adapted incentives under digitalization and the transition to a knowledge economy. Methodologically, the study combines analysis of gender-disaggregated national statistics and the regulatory framework with international indices, case studies of best practices, and empirical tests of associations between women’s entrepreneurship and metrics of productivity and innovation. The findings register persistent gender gaps in access to finance and wages, entrenched sectoral segregation, and the underrepresentation of women in high-value industries and in mediumand large-scale firms, alongside pronounced regional heterogeneity in the intensity of women-led MSME activity. The study’s originality lies in integrating a gender approach into human capital theory and in the formal specification of a causal mechanism. Quantitatively validated, this mechanism shows how women’s entrepreneurship -by strengthening human and social capital (managerial, financial, and STEM/ICT skills and professional networks)–raises productivity and innovation and ultimately fosters inclusive economic growth. The practical significance is presented as a set of recommendations: improving gender-disaggregated monitoring, deploying targeted financial instruments, embedding gender-responsive procurement, expanding incubation and acceleration, advancing STEM/ICT skills, and investing in care infrastructure. Integrating these recommendations into MSME support programs, regional policy and gender-equality strategies strengthens human capital and the resilience of long-term growth. The results can inform sustainable development policy, MSME support programs and gender-equality strategies.