BANK LENDING TO SMALL AND MEDIUM-SIZED ENTERPRISES IN THE CONTEXT OF DIGITALIZATION

А. Tyumambayeva

2026

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DOI 10.52578/3434-9765-2026-1-68-76
Data confidence 70 medium
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Abstract

The development of small and medium-sized enterprises (SMEs) plays a key role in the Republic of Kazakhstan’s state economic policy. Financial measures—such as lowering interest rates on loans, providing loan guarantees, and allocating targeted funds to ensure the financial stability of business initiatives—are central to state support. In today’s environment, accelerating the development of small and medium-sized enterprises (hereinafter “SMEs”) has become a priority for the Republic of Kazakhstan. The development of small and medium-sized businesses has a direct impact on the country’s economic condition, which largely determines the level of employment, the supply of domestic products in the domestic market, revenues to the state budget, and the creation of a competitive environment. The successful functioning of small and medium-sized businesses is a key factor in economic growth and the socio-political transformation of the state. The aim of this study is to examine and evaluate government support measures aimed at developing small and medium-sized enterprises in Kazakhstan. Particular attention is paid to the system of financial regulation and incentives for this sector. The object of the study is the mechanisms of government financial assistance to SMEs, and the subject is the level of accessibility and effectiveness of such support for entrepreneurs. This publication analyzes the development trends of SMEs in Kazakhstan, examining indicators such as the share of SMEs in gross domestic product, the number of actively operating enterprises, and the number of people employed in this sector. It also provides an overview of lending to small and medium-sized businesses by second-tier banks for the period from 2022 to 2024. Despite the availability of government support for SMEs, challenges faced by entrepreneurs have been identified. In this regard, promising areas for improving small and medium-sized enterprises in the Republic of Kazakhstan have been developed with the aim of addressing the identified problems in the field of credit support.