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The 5th Business Forum of Conference on Interaction and Confidence Building Measures in Asia (CICA), 10-11 of November 2016, Astana, Kazakhstan

An entrepreneur opened up professional photo and video studio in Kyzylorda city with the help of state support

June 16, 2016 6:16 pm

Partial guarantee tool allowed to entrepreneur from Kyzylorda city Nurzhan Absamatov attract loan capital from the "Sberbank of Russia" JSC in the amount of 7 million tenge under 14%, which were used to purchase the necessary equipment. Thus, within a Unified Program of Support and Business Development "Business Road Map - 2020" the government eased the debt burden on the loan twofold for first-time entrepreneur, partially offsetting the interest rate on his loan.

"I have experience in the field of photo and video services, however in order to set up a professional studio a lot of financial resources are required that could be obtained at the bank. Like many aspiring entrepreneurs, I had a problem with the lack of collateral. Having requested assistance in ESC of the "Damu" Fund, I realized that this problem can be solved with a guarantee tool"- shared N.Absamatov.

To strengthen skills in doing business and master how to manage finances properly, aspiring entrepreneur studied entrepreneurship course in the framework of the "Support for entrepreneurial initiatives of students" program at the basis of “Damu” Fund’s Entrepreneurs Service Centre.