Evaluation of Kazakhstan’s entrepreneurial activity environment based on the global entrepreneurial and development index approach

Abstract

The entrepreneurial sector plays a vital role in the economy, acting as a platform for growth and innovation. Examining the degree of entrepreneurial activity in the region might provide valuable insights. However, it is critical to recognize that entrepreneurship is influenced by a variety of linked forces and individuals. Creating a conducive environment for entrepreneurial activity is essential for several reasons. Firstly, it facilitates the transition from planned economies to market-oriented economies, serving as a key direction for market reforms. Secondly, entrepreneurship is seen as a structural state change that needs effective policies and a good economic environment to assist entrepreneurs. Lastly, studying the factors that contribute to entrepreneurial potential is crucial for fostering an entrepreneurial culture and developing strategies to support entrepreneurship. Understanding the factors influencing entrepreneurship is important for addressing social inequality, ensuring reproductive process stability, and achieving sustainable economic growth. Entrepreneurship allows people to better their socioeconomic condition, decreases inequality, increases economic expansion, and offers career opportunities. While research studies have explored the entrepreneurial activity environment in various countries, there is limited literature on Kazakhstan’s entrepreneurial activity environment. This is why, this research is laid out to assess Kazakhstan’s entrepreneurial activity environment by applying the Global Entrepreneurship and Development Index (GEDI) approach.