Around 80% of firms in Kazakhstan are family businesses

Almaty. June 3. Silkroadnews – Around 80% of firms in Kazakhstan are family businesses, as Yana Isakova, the chairman of coordinative council of Kazakhstan’s Family Business Association, informs.
“According to our own estimates and the data we possess, around 80% of firms in Kazakhstan are family businesses. It is beyond the point if they are registered as such or named as such”, Yana Isakova stated at the Press Conference.
She says the concept of “family business” is not legislatively stipulated in Kazakhstan. Its definition is not provided.
“It can be a father of a family that owns the business alone …it can also be a husband and wife who jointly manage the business”, she explained.
“I think that family traditions and family entrepreneurship is within cultural values of Kazakhstan”, Yana Isakova concluded.