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The relevance of the present article is explained by the need for a detailed study of the influence of medium and small business representatives on the economic indicators of the Republic of Kazakhstan. In this regard, this study is aimed at identifying or covering the development of entrepreneurship theory and establishing methodological approaches that allow assessing the impact of entrepreneurship on the socio‐economic development of regions. The leading method for the researched subject is a systems analysis, which allows comprehensively considering the regional economy as a complex multi‐component structure, performing in unstable global conditions. In addition, the following methods were used: logical analysis, comparative, economic, synthesis and deduction, classification, and mathematical statistics. The research results are presented in the format of figures and tables showing the contribution and influence of small and medium businesses on the economy of the Republic of Kazakhstan; in the course of the study, the authors covered the components that influence the successful development of the entrepreneurship macro‐environment; identified the factors that influence the socio‐economic development of the region. The study materials are of practical value for economists, teachers, and students in the field of economics, representatives of small and medium businesses. [ABSTRACT FROM AUTHOR]