Study of family business in Kazakhstan

Abstract

The emergence of family businesses in the late 20th century was driven by the increasing competitiveness of the market environment. This led to a rise in the significance of family- owned businesses as a source of economic prosperity and stability. However, the development of entrepreneurship faced challenges due to the lack of institutional support for market relations and the insufficient recognition of the importance of family businesses to the economy.

This article aims to elucidate the role and unique attributes of family businesses within the national economy. The author examines the challenges faced by small and medium-sized enterprises operating within family business structures and presents various conceptual frameworks for understanding family entrepreneurship.

1446 enterprises of the Republic of Kazakhstan, conducted by the World Bank, took part in the research methodology of the survey analysis by studying the materials of socio-demographic characteristics of the development of family business using the example of small and medium-sized enterprises.

An analysis of the dynamics of small family businesses indicates a positive trend in employment growth and economic performance. Notably, a significant proportion of these businesses are owned by women in Kazakhstan. Despite facing competition from the informal sector, family businesses exhibit a resilience and entrepreneurial spirit, leveraging their own resources and capabilities for growth.