Financing Aspects of an Effective Strategy for Innovative Enterprise Development

  • Ardak TURGINBAYEVA Faculty of Economic, Al-Farabi Kazakh National University, Almaty, Kazakhstan
  • Asset USTEMOROV Narxoz University, Almaty, Kazakhstan
  • Gulmira AKHMETOVA Atyrau State University named Khalil Dosmukhamedov, Atyrau, Kazakhstan
  • Zhanna KOSE Faculty of Finance, Karaganda Economic University, Karaganda, Kazakhstan
  • Aibek IMASHEV Faculty of Economic, Kazakh University of Economics, Finance and International Trade, Astana, Kazakhstan
  • Galiya GIMRANOVA Faculty of Finance, Karaganda Economic University, Karaganda, Kazakhstan


The current stage in the formation of Kazakhstan's market economy requires the creation of an innovation policy system. State innovation policy is understood as a set of goals, as well as methods of influence of state structures on the economy and society as a whole related to initiating and increasing the economic and social effectiveness of innovation processes. Innovative policy becomes important in conditions of increasing innovation activity of commercial and state enterprises and structural restructuring of the country as a whole.

Earlier, in the conditions of non-market relations in the economy of the Republic of Kazakhstan, innovative processes were centrally managed by state administrative bodies (ministries, state committees, main administrations, administrations of all levels), as well as their representatives at state enterprises represented by directors.

The transition to the market strengthens technological competition, leads to the bankruptcy of those who use and produces obsolete products, and provides super profit (based on differential scientific and technical income) to pioneers of scientific and technological progress, active innovators.

The author investigates the question of increasing the innovation potential of public policy in terms of enterprises development. Special attention is paid to financial aspects of this innovation strategy.


[1] Pogorelov V. 2012. Evaluation of satisfaction of small business entities with state support: issues of methodology and practice. Journal of Russian Entrepreneurship, 10 (208): 139-145.
[2] Avdonin B. 2011. Theoretical bases and tools for managing the long-term development of high-tech enterprises. Moscow. 282.
[3] Leonidova G. 2013. Analysis of software development of education. Problems of Territory Development, 1(63): 109-120.
[4] Nasonov V. 2014. Actual problems of state support of small business development in the region's economy. Young Scientist, 1(9): 403-405.
[5] Chernikov A. 2012. Small business: the essence and prerequisites for effective development. Journal of Russian Entrepreneurship, 23(221): 10-16,
[6] Esina Yu., Vorotyntseva S. 2011. Peculiarities of the formation of the legal field of state support of small business in Russia. Journal of Russian Entrepreneurship, 1(175): 16-22.
[7] Ostroumov O. 2007. Tourism. Promotion of the Russian tourist product. Moscow. 128.
[8] Yuts A. 2010. The mechanism of state support of small business in tourism. Journal of Russian Entrepreneurship, 11 (171): 118-124.
[9] JSC Damu,
How to Cite
TURGINBAYEVA, Ardak et al. Financing Aspects of an Effective Strategy for Innovative Enterprise Development. Journal of Advanced Research in Law and Economics, [S.l.], v. 9, n. 2, p. 714-720, dec. 2018. ISSN 2068-696X. Available at: <>. Date accessed: 13 july 2024. doi: 2(32).33.