VENTURE CAPITAL FINANCING AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES
ABSTRACT
The study venture capital financing and performance of small and medium enterprises in Akwa Ibom aimed at finding
the relationship between venture capital financing and performance of small and medium enterprises in Akwa Ibom
State other objectives of the study includes; to evaluate the benefit of venture capital to SMEs performance, to
evaluate the level of
venture capital accruing to
SMEs in akwa ibom
state, to evaluate the
performance of SMEs in the
year 2001- 2015, to
determine the relationship between venture capital and SMEs performance, the study made use of the data obtained
from the CBN statistical bulletin 2016. Ordinary least square regression was used to test the hypothesis. The study
found out that there is significant relationship between venture capital financing and performance of small and
medium enterprises in Akwa Ibom State. The performance of SMEs was the same for the year 1999 and 2014. SMEs
experienced the highest performance in the 2012 with a performance rate of 98.9. The study then concluded that
there is a statistically significantly strong positive relationship between venture capital financing and the performance
of small and medium scale enterprises in Uyo, Akwa Ibom state. Proper recommendation were made to enhance the
interest of researchers for further study of venture capital financing and the performance of small and medium scale enterprises in Uyo, Akwa Ibom State.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Governments throughout the world are nowadays turning their attention to small-scale enterprises. This is because
attempts to promote economic progress by establishing large industries have usually failed to improve the lives of the
majority of the populations concerned (White Paper on International Development, 2000). Therefore, Small and
Medium Enterprises (SMEs) are now viewed as important in even and equitable economic development.
RoK (2005) clearly show that the sector is not only a provider of goods and services but also a driver in promoting
competition, innovation and enhancing the enterprise culture which is necessary for private sector development and
industrialization. The sector should effectively respond to challenges of creating productive and sustainable
employment opportunities, promoting economic growth and poverty eradication in the country
VENTURE CAPITAL FINANCING AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES