April 29, 2026 –– Mastercard in partnership with KPMG presented the study “SMEs in Kazakhstan: Challenges and Opportunities”. The report analyzes the contribution of small and medium-sized businesses to the country’s economy, as well as the key barriers and growth opportunities in this sector. The study was announced at the National Chamber of Entrepreneurs of the Republic of Kazakhstan “Atameken”.
Small and medium-sized businesses remain one of the key drivers of Kazakhstan’s economy. According to the study, as of 2025, the sector accounts for around 40% of GDP − 7% higher than in 2020. At the same time, SMEs employ approximately 4.7 million people, representing more than 50% of the country’s economically active population. Employment in the sector has been growing at an average annual rate of 6%, against a backdrop of declining employment in other industries.
Over the past five years, the number of SME entities has increased 1.6 times, primarily driven by the growth of individual entrepreneurs. Growth in the medium-sized business segment has been less dynamic, indicating challenges in scaling from small to medium-sized enterprises.
Labor productivity in micro and small businesses remains more than twice as low as in the medium and large segments. In 2025, one employee in a small business generated 7.4 million tenge, compared to 15.9 million tenge in the medium-sized segment, and the gap continues to widen.
Among the key factors constraining SME development are:
- limited access to financing,
- high cost of borrowed funds,
- instability of the tax and regulatory environment,
- macroeconomic volatility, and
- labor shortages.
The export potential of businesses is also constrained by high logistics costs and certification challenges. The study shows that up to 80% of key SME needs remain unmet.
Digitalization is a key driver of SME development. Basic digital tools are already widely used: around 75% of companies use electronic digital signatures and online banking, more than half use digital marketing and online accounting, and nearly 50% operate on marketplaces. The next stage of digital transformation is associated with the automation of business processes, data analytics, and the use of AI.
At the same time, 94% of entrepreneurs point to the high cost of implementing digital solutions, 83% indicate a shortage of IT specialists, and another 83% are concerned about additional costs. Under these conditions, the level of digital maturity varies significantly depending on the region and the level of economic development.
Kazakhstan demonstrates a high level of digital infrastructure development. Key administrative procedures, including business registration, tax reporting, and access to public services, are available online. However, entrepreneurs note the fragmentation of digital services and the need for their integration based on a “one-stop shop” principle.
The development of payment infrastructure has also reached a high level, although the penetration of business cards as a B2B payment tool remains relatively low.
The most in-demand areas of development include
- analytical and consulting services,
- digital marketing, and
- training and skills development.
Currently, a significant share of such services is purchased from foreign providers.
Global trends, including embedded banking, alternative scoring models, and platform ecosystems, are gradually becoming relevant for Kazakhstan as well. In this context, the role of financial institutions and technology companies in shaping comprehensive solutions for SMEs is increasing, combining payment, financial, and business services into unified product offerings.
Mastercard offers solutions for accepting payments and managing business expenses through the use of business cards, as well as access to special offers and discounts from global and local partners. The company also places particular focus on supporting women’s entrepreneurship: together with its partners, it implements the Business-Aru program, aimed at training, skills development, and grant support for women entrepreneurs.
