IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 8 NO. 2 2023
DOI: https://doi.org/10.56201/wjeds.v8.no2.2023.pg18.29

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SMES Performance and Venture Capital Financing in Benue State: The Essence

Benson Emmanuel PhD, Ogaga, Timiepere Cornelius

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Abstract

This work investigate SMES Performance and Venture Capital Financing in Benue State. the researchers employed a survey research design to ascertain the effect of venture capital financing and annual sales of SMEs in Benue State and also determine the effect of venture capital financing and profitability of SMEs in Benue State. The study population was drawn from three major towns of the state and amounted to a total of 1640 with a sample size of 328 which was gotten using Yaro Yamane formula to arrive at the sample size of the study. Regression analysis was used to analysis the data and the findings shows that venture capital financing and performance of small and medium enterprise is significantly positive and concludes that Venture capital financing is a proven and influential factor in the survival and sustenance of small and medium enterprise performance across Benue State. The study recommends among others that Small and medium scale enterprises need to recognize the numerous benefits and potential advantages of seeking external equity finance for corporate sources.

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References:

Memba, S.F., Gakure, W.R. & Karanja, K. (2012). Venture capital: Its impact on growth of
small and medium enterprises. International Journal of Business and Social Science,
3(6).

Njama, G.K. (2013). Effect of venture capital financing on the growth of small and medium
sized enterprise. PhD Dissertation.

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