Development of microfinance as a tool to support entrepreneurship in Kazakhstan

Abstract

Object. Considerable attention is paid to microfinance in modern conditions. It is one of the ways of financial support of entrepreneurial activity and represents the provision of financial services to small businesses that are at the stage of business formation or do not have access to bank lending. The study of the current state of microfinance infrastructure in the Republic of Kazakhstan, insufficient theoretical knowledge of individual problems in the field of microfinance entrepreneurship, the practical significance of solving these problems determined the relevance of the article. The purpose of the study is to develop and substantiate recommendations for the development of the microfinance system of entrepreneurship in the Republic of Kazakhstan. Methods. In the course of the study, methods of theoretical, diagnostic, empirical, experimental, graphical representation of the results were used. When discussing the results of the functioning of the microfinance market, the following methods were used: analysis, synthesis, clarification, generalization. Results. In order to implement entrepreneurial initiatives, the Kazakh practice of real expansion of microfinance volumes is considered, the analysis of the features of micro-crediting is carried out. The characteristic of the place of conditions of micro-crediting of entrepreneurship in the microfinance market of the Republic of Kazakhstan is given. Conclusions. In modern conditions, with the development of Internet technologies, micro-loans are issued not only in cash, but also with the use of electronic technologies. Innovations such as real-time service via the Internet or mobile communication can open up new opportunities for MFOs.