Business support programs
Over 7,000 Kazakhstan citizens have already utilized the benefits of the state support program ‘Business Road Map 2020.’ Entrepreneurs set up their businesses in various spheres nowadays. For instance, Zhangul Telbayeva makes women’s shoes. She used to import shoes from abroad for many years. Later, she decided to manufacture good quality products locally. Having received support as part of the state program, she opened a small workshop in the village she lives in.
ZHANGUL TELBAYEVA, ENTREPRENEUR:
We make leather shoes with real fur inside and thermo soles that are in high demand due to our harsh winters. The inner fur is processed in Taraz and Kokshetau, the leather is purchased in Almaty.
Up to 8 pairs of boots per day are manufactured in this workshop. In the future, it is planned not only to increase production but also to expand sales markets. As experts say, goods manufactured in Kazakhstan are vendible. The same trend can be observed in the jewelry market. Jewelry with national ornaments is in high demand among fashion-mongers, the local entrepreneur Yekaterina Manashova says. Damu Fund is ready to support this project.
YEKATERINA MANASHOVA, DIRECTOR, JEWELRY COMPANY:
We focus on Kazakh national motifs thereby demonstrating that we value traditions. I would say that Kazakhs are attached to their traditions and this is a revival. We are focused on this because it’s a trend. We have nearly 7,500 items made not only according to national motifs, but this is our main feature.
It has been 6 years since the Business Road Map was launched, and new support tools are introduced every year. For instance, franchise business loans are available at present.
MEREKE SYZDYKOV, DEPUTY DIRECTOR, DAMU FUND HEADQUARTERS:
The given program operates since 2010 and it has proved its efficiency. Many entrepreneurs have repeatedly turned to this program for financial aid. The retail bank’s interest rate on loans is 17-19%, the support program helps lower the interest rate to 9-10%
According to Damu representatives, in Astana, the priority is given to processing and manufacturing industry, hotel business, education and healthcare. 500 start-uppers received support within the program in Astana. After all, it is small and medium sized businesses as well as industrial projects that should become the main core of Kazakhstan’ economy.