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      This report offers a comprehensive and authoritative overview of Kazakhstan’s SME sector, combining robust data analysis with real‑world business insights to highlight both its growing economic importance and its persistent constraints. It shows that SMEs are increasingly central to GDP growth and employment, while also underscoring critical challenges such as low productivity, limited access to finance, talent shortages, regulatory uncertainty, and uneven digital adoption. A key value of the study lies in its clear emphasis on digitalization as a lever for productivity and competitiveness, supported by practical recommendations for government bodies, financial institutions, and large corporates to develop integrated, one‑stop solutions for SMEs.

      Overall, the report stands out as a strategically relevant resource for decision‑makers, offering credible insights and forward‑looking guidance, with only minor editorial refinements needed to further enhance clarity and presentation quality.


      Against the backdrop of Kazakhstan’s rapidly shifting SME landscape, systemic constraints hindering the sector's growth are becoming more pronounced. Access to finance, scalability, operational resilience, and adaptability to evolving market conditions have become mission-critical for businesses. In this environment, a rigorous and structured assessment of the current state of SMEs—identifying key barriers, trends, and growth levers — is essential. This study aims to provide such a comprehensive perspective.
      Bolat Mynbayev

      Partner, Head of Strategy and Operations practice

      KPMG Caucasus and Central Asia


      №

      Kazakhstan’s SME Sector: Challenges and Opportunities



      Contacts

      Bolat Mynbayev

      Partner,
      Head of Strategy and Operations practice
      KPMG Caucasus and Central Asia
      E: bmynbayev@kpmg.kz

      Khorlan Adilova

      Associate Director,
      Strategy and Operations practice
      KPMG Caucasus and Central Asia
      E: kadilova@kpmg.kz

      Temirlan Khaibrakhmanov

      Senior Consultant,
      Strategy and Operations practice
      KPMG Caucasus and Central Asia
      E: tkhaibrakhmanov@kpmg.kz

      Arslan Latipov

      Consultant, Strategy and Operations practice
      KPMG Caucasus and Central Asia
      E: alatipov@kpmg.co.uz