Recent Evidence of Small Business Development in Transition Economies

International Journal of Entrepreneurship, Vol. 12, No. 1, pp. 71-85

15 Pages Posted: 27 Dec 2017

See all articles by Jung Wan Lee

Jung Wan Lee

Boston University - Department of Administrative Sciences

Tantatape Brahmasrene

Purdue University North Central

Simon Tai

Bang College of Business

Date Written: September 30, 2008

Abstract

This study investigates the role of small business development (SBD) in transitional economies of Commonwealth Independent States (CIS) and makes economic and financial recommendations for international policymakers. A range of current SBD research that examined entrepreneurship from an economic perspective was reviewed. An economic research paradigm was developed to provide a macro view of CIS countries and then it was applied to Kazakhstan in Central Asia. In general, factors that enhance SBD include improving institutional environments, increasing credit availability and promoting competition. Specifically in Kazakhstan, a survey of entrepreneurs and small business owners was conducted to determine how SBD creates markets and how it transforms lives. To enhance and sustain economic stability and reduce reliance on state-owned natural resource industries, CIS should implement alternative development strategies that promote SBD. Selected policy and practical implications are identified which facilitate SBD through initial investment funds that create capital formation and credits.

Keywords: entrepreneurship, small business development, small business owners, transitional economies, Kazakhstan, Central Asia, Commonwealth Independent States

Suggested Citation

Lee, Jung Wan and Brahmasrene, Tantatape and Tai, Simon, Recent Evidence of Small Business Development in Transition Economies (September 30, 2008). International Journal of Entrepreneurship, Vol. 12, No. 1, pp. 71-85. Available at SSRN: https://ssrn.com/abstract=3091363

Jung Wan Lee (Contact Author)

Boston University - Department of Administrative Sciences ( email )

808 Commonwealth Avenue
Boston, MA 02215
United States
617 358 5627 (Phone)
617 353 6840 (Fax)

HOME PAGE: http://www.bu.edu/met

Tantatape Brahmasrene

Purdue University North Central ( email )

1401 South US 421
Westville, IN 46391
United States

Simon Tai

Bang College of Business ( email )

KIMEP
Almaty
Kazakhstan

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