Second Level Banks Support Astana Start-Ups

Startup projects in various sectors of the economy will be carried out through second-level banks. This was stated by Director of the Astana Chamber of Entrepreneurs Ghani Tasmaganbetov, reported the press-service of Astana akimat (administration).

“Astana is a leader among other cities in supporting the business sector. Prior to this, the city allocated funds for the ZhasStarT Youth Entrepreneurship Programme. We, the regional Chamber of Entrepreneurs, were given the opportunity to select projects and make recommendations. I think the number of potential participants will be great,” said Tasmaganbetov.

According to him, the announcement to launch the new programme to support start-up projects was made at the beginning of March during a conference of Astana business people with the participation of Astana Akim (Mayor) Adilbek Dzhaksybekov and Chairman of the Presidium of Atameken Timur Kulibayev.

“Young entrepreneurs usually face various barriers when it comes to financial issues. In fact, it is difficult to get a loan in banks to establish a new business, as most of them prefer supporting those who already have one and can leave a deposit. Thanks to this new initiative, young and passionate entrepreneurs can be supported by the akimat,” Tasmaganbetov stressed.

He recalled that the akimat of Astana has already allocated 1,000 land plots for retail and the demand for them is three times their number.

Two successful start-upers, dentist Serik Mukhashev and restaurant owner Gulmira Shazhanbaeva, told how the state funds helped them establish their new businesses.

“I have worked as a dentist since 1990. It was my old dream to have my own dentistry and thanks to the Damu fund and the city akimat this dream came true. I could afford to buy expensive equipment and invite professionals. Our clinic opened two months ago,” Mukhashev said.

According to the restaurant owner, the idea to open a restaurant came to her a long time ago.

“The programme for regional financing of small and medium-sized businesses covered 25 percent of my total investment in the business. I think it was one of the pillars to establish my restaurant and open it on time,” said Shazhanbaeva.

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