The Top 7 Risks Most Kazakhstan Companies Overlook

Kazakhstan’s dynamic and fast-evolving business landscape offers incredible opportunities — but also unique risks that many companies underestimate until it’s too late. As a risk management consultant, I’ve seen how overlooked risks quietly grow into serious business threats.

Below are the seven most common risks that Kazakh companies tend to miss — and what you can do today to manage them smarter.

Regulatory Uncertainty

Risk: Laws and regulations — especially in sectors like energy, finance, trade, and construction — can change with little notice.
Why it's overlooked: Many companies rely on outdated practices or assume changes won’t affect them.
What to do: Regular compliance reviews and building a relationship with local legal advisers are essential. Create a monitoring system for updates from government ministries.

Lack of Cybersecurity Preparedness

Risk: Most SMEs in Kazakhstan lack formal cyber strategies, despite growing online operations.

Why it's overlooked: Cyber threats seem abstract — until a phishing email locks your whole system.
What to do: Start with a basic cybersecurity audit. Use strong passwords, two-factor authentication, and backup systems. Educate your team.

Talent Drain and Workforce Instability

Risk: Young talent in Kazakhstan often leaves for international opportunities. Meanwhile, local training may not match new demands.
Why it's overlooked: HR is often reactive, not strategic.
What to do: Invest in retention strategies, training, and flexible work models. Link workforce planning to long-term business goals.

Reputational Risk in the Digital Age

Risk: One bad customer experience or social media post can damage your brand — and spread fast.
Why it's overlooked: Many SMEs think reputation only matters to big brands.
What to do: Monitor mentions of your business online. Respond fast and respectfully. Build a reputation before it’s tested.

Weak Supply Chain Resilience

Risk: Overreliance on a single supplier or region makes businesses vulnerable to delays, price shocks, or political disruptions.
Why it's overlooked: Many supply chains “just work”… until they don’t.
What to do: Identify alternatives now, not during a crisis. Assess risks in logistics, transportation, and customs.

Limited Crisis Planning

Risk: Few companies have written contingency plans or crisis communication protocols.
Why it's overlooked: “We’ll deal with it when it happens” is a dangerous motto.
What to do: Develop simple response plans for scenarios like blackouts, protests, data breaches, or fire. Do a basic tabletop exercise once a year.

Overconfidence in Informal Networks

Risk: While relationships matter in Kazakh business culture, relying solely on personal ties without contracts or risk evaluation can backfire.
Why it's overlooked: Trust feels safer than bureaucracy — until deals go wrong.
What to do: Balance relationship-based business with formal structures, risk assessments, and legal agreements.

"The best businesses don’t wait for risk to strike — they prepare, adapt, and lead through uncertainty."