Ecosystem of entrepreneurship: risks related to loss of trust in stability of economic environment in Kazakhstan

Yelena Petrenko (), Nurlan Iskakov (), Oleg Metsik () and Tatyana Khassanova ()
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Yelena Petrenko: South Ural State University, Russian Federation
Nurlan Iskakov: Almaty Management University, Kazakhstan
Oleg Metsik: Institute of Economics, the Ural Branch of Russian Academy of Sciences, Russian Federation
Tatyana Khassanova: South Ural State University, Russian Federation

Entrepreneurship and Sustainability Issues, 2017, vol. 5, issue 1, 105-115

Abstract: Favorable ecosystem of entrepreneurship plays crucial role for successful development of small and medium enterprises (SMEs) and their sustainability. One of preconditioms of encouraging business environment is its’ stability, and trust in long-term stability. Meanwhile the global economic crisis has created a state of economic and political instability, what consequently affected trust of business entities, and therefore contributed to increase of social and economic risks. The article discusses the decline of trust in the entrepreneurship of Kazakhstan, examines the causes and consequences of loss of confidence as an important institutional resource.

Keywords: entrepreneurship ecosystem; trust; business risks; economics; Kazakhstan; Small and Medium-sized Enterprises (SMEs); corruption; state (search for similar items in EconPapers)
JEL-codes: O15 O50 O53 P40 P47 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:5:y:2017:i:1:p:105-115

DOI: 10.9770/jesi.2017.5.1(8)

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