Kazakhstan to start accepting applications for grants to implement business ideas

Kazakhstan will start accepting applications for grants to implement business ideas from August 29. Among the applicants for the gratuitous aid may be persons with disabilities, Kandas people, members of low-income families, as well as youth. The country’s Ministry of Labor and Social Protection of the Population informed that the third phase of the entrepreneurship development program is expected to support about 7,000 citizens. The office also presented general terms for participation in the competition.

“It bears noting that in order to receive a grant, participants are required to learn the basics of entrepreneurship as part of the Bastau Business project. At present, entrepreneurship training is conducted online via Skills.enbek.kz website. Funds are allocated both from the state budget and from the National Fund of the President. It is expected that a total of 23,000 Kazakh citizens will receive the financial support. The total fund to assist new business ideas amounts to 24.5 billion tenge,” said Ayaulym Berekenova, Spokesperson for the Kazakh Ministry of Labor and Social Protection of the Population. 

The whole process will be transparent, experts say. Upon receiving financial support, a grant winner will have to report on execution of funds for a whole year. He or she will need to send the report to the employment center every quarter.