Published on 12/9/24

Small and medium-sized enterprises (SMEs) are indispensable to the national growth of developing and industrialized countries. However, their ability to expand and sustain profitability is limited by very high operational costs, including high energy expenses and burdensome taxation practices. These issues, which are further elaborated upon in a recent study published in the Universal Journal of Accounting and Finance, point to the urgent need for new methods to assist these firms cope with challenging fiscal environments. 

For the past few years, Aysuluu Chymyrbaeva, a thought leader in financial advisory and the founder of Global Balance LLC, has dedicated her career to addressing these pressing issues. She has more than a decade of experience and has created groundbreaking tax optimization strategies to enable SMEs to become financially transparent and grow. 

Through her innovative methodologies, businesses have been able to survive in a competitive market and live through economic challenges. Aysuluu’s story shows how specific financial needs can be met with targeted solutions, which have a profoundly positive effect not only on a single or a few businesses but on the whole economic landscape. 

Pioneering Tax Optimization Strategies 

One of Aysuluu’s major works is a methodology for tax accounting optimization tailored for SMEs. At the foundation of this model is an exhaustive analysis of the tax system. Here, she evaluates the tax burden across different options and shows how businesses can cut their tax burden by 10-15%. “The goal here is to simplify the complexities of tax compliance for small businesses,” she states. “Through tailored advice, we ensure that even companies with no funds can run transparently and effectively.” 

Aysuluu’s work also addresses the operational inefficiencies many SMEs suffer from. As a result, she has managed to bring in automatic accounting systems capable of saving up to 40% in data processing time. In addition to making financial reporting more accurate, these systems also provide free resources for strategic decisions. “We’ve seen how automation has transformed businesses,” she explains. “Manual processes end up being a waste of time for clients, and they can spend that time growing and innovating.” 

Apart from technical developments, Aysuluu emphasizes the importance of long-term planning. She works with clients to build up reserves of financial assets so that they can weather adverse circumstances without loss of stability. This reserve system has been a key element in supporting capacity growth, managing unexpected expenses, and increasing profitability. 

Impacting SMEs

The effect of Aysuluu’s efforts on SMEs cannot be overemphasized. Under her leadership, Global Balance LLC has made a difference by being an agent of change for businesses to better manage their finances while fostering a culture of growth and innovation. Her emphasis on financial disclosure has allowed over 100 small enterprises to implement strong accounting practices and set the stage for future sustainability. Her personalized services include advising clients about business formation and tax planning.

By helping SMEs make the right decisions in terms of their tax regimes and developing a structured growth plan, she provides them with the necessary tools for them to thrive. As a result, her clients have recorded an average annual profit increase of 15-20%. “This is a clear sign of the effectiveness of our methodologies,” she says. “This isn’t about numbers; it’s about real opportunities for these businesses to thrive.” 

In addition, her work has modernized how well-known marketplaces conduct businesses, having implemented automated accounting systems that cut data processing time down by 70%. With these efforts, reporting accuracy has improved, and companies have been better able to utilize the resources that they have to compete in turbulent markets. 

Empowering Women and Youths

Aysuluu’s commitment to SMEs extends beyond her professional services. As a mentor and coach, she actively encourages women to become business owners, and she gives them the tools they need to succeed as business owners. Her leadership in “Women in Business,” a program organized with the support of the Swiss Government and the EBRD Small and Medium-Sized Business Assistance Fund, which she won in 2021, tells us of her commitment to giving women the tools for success through education and guidance. She also prioritizes the development of young professionals.

For many years, her company has been a springboard for more than 30 accountants by training them with the skills and hands-on experience they needed to survive in the financial industry. “Inspiring others is as important as achieving personal success,” she adds. “By equipping young professionals with the tools they need, I’m investing in the future of the industry.”

Sharing Knowledge and Building Expertise 

Besides being a practitioner, Aysuluu takes on the role of an advocate for professional development in her field. In 2023, she delivered presentations on financial topics, such as understanding financial statements, at conferences in Bishkek, Kyrgyzstan. As a jury member of the prestigious Cases&Faces Annual International Business Conference and Award 2024, she evaluates extraordinary business projects and keeps solidifying herself as a thought leader in this area. “Being part of judging panels and speaking at conferences allows me to share my experiences with a wider audience,” she continues. “It’s both a way to shape the industry and share best practices.” 

Her active participation in professional bodies, including the International Coaching Federation (ICF), the JIA Business Association, and the Association of Women Entrepreneurs “Kurak Women’s Forum,” has also become an opportunity to share insights and refine her strategies. These associations increase her influence in the financial world and align with her overall vision for a more just business world. 

Aysuluu’s work exemplifies how accounting can be a transformative force for SMEs, helping them fight challenges and make full use of their potential. Through her innovative methodologies and a strong belief in empowerment, she is reversing how small businesses operate in the financial world. Her experience is proof of how one’s professional career can be used to create opportunities for a greater number.

Whether she is mentoring the new generation of accountants, promoting women entrepreneurs, or pioneering new methodologies, Aysuluu Chymyrbaeva is a beacon of progress in the business world. “In today’s fast-paced world, businesses need more than just compliance — they need strategies for growth,” she concludes. “This is where I see my role: to guide, innovate, and empower.”