UCA News - Issue 102
School of Professional and Continuing Education supports entrepreneurs in Naryn
The University of Central Asia’s School of Continuing and Professional Education (SPCE) organized a roundtable, "Development of Small and Medium Business in Naryn", Kyrgyz Republic on 19 October 2011. Funded by the Norwegian Ministry of Foreign Affairs, the roundtable was part of SPCE’s Entrepreneurship programme launched under the auspices of a two-year initiative to promote stability and economic opportunity in the Kyrgyz Republic.
The roundtable brought together 32 representatives from the local business community, members of the Department for Small and Medium Business Development under the local administration, and staff from the Kyrgyz Investment and Credit Bank (KICB), which is a programme partner.The event served as a platform for dialogue, with discussions focusing on the current state of and development prospects for private enterprise in the Naryn Oblast. Emphasizing the importance of supporting Naryn’s entrepreneurs, who will play a critical role in driving the economic development of the region, Taalaibek Karpekov, Head of SPCE Naryn said:“Kyrgyzstan’s entrepreneurs face a challenging business environment. SPCE’s Entrepreneurship programme aims to contribute to the economic development of the region by supporting enterprise development and developing the skills of local entrepreneurs.
With support from the Norwegian government and KICB,SPCE has established a $50,000 revolving loan fund to stimulate enterprise development in the oblast. To date, three graduates of SPCE’s Entrepreneurship programme have received low-interest microloans to fund start-up costs for their proposed businesses: a handicrafts store, poultry farm, and bakery.
Graduates of the Entrepreneurship programme also shared their learning experience at SPCE, and some of the opportunities provided by the programme.“The programme was an eye-opener for me to understand the basics of business planning, learn marketing tools and make more familiar with accounting. I took a KICB loan and my bakery business is growing,” said Gulmira Toktosunova.
From October 2011, the Entrepreneurship programme will be offered to an additional 12 entrepreneurs from Naryn City.