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An investigation into venture financing: A case study on small to medium scale enterprises in Bindura urban, Zimbabwe (2013-2014)
| Content Provider | Semantic Scholar |
|---|---|
| Author | Manyani, Onias Onias, Zivanai Hove, Nhamo Mudzura, M. Chiriseri, Lloyd |
| Copyright Year | 2014 |
| Abstract | This paper sought to investigate on venture financing to SMEs in Zimbabwe. The research focused on SMEs operating in Bindura town under Mashonaland Central Province. The survey research design was used. A target population of 356 registered SMEs operating different types of industries in Bindura was used in this study. Probability sampling was used to select the 188 respondents from the population. A structured questionnaire was used to collect primary data from ownermanagers in SMEs. Secondary data and interviews with officials from Small Enterprises Development Corporation (SEDCO) and bank officials were used to gather qualitative data. Interview responses were analyzed by content analysis and questionnaire responses were analysed using Statistical Package for Social Sciences tool and Microsoft Office Excel software. The results indicated that the majority of SMEs in Bindura use their own savings, family and friends to finance their businesses. The results also indicated that the financing options available to Bindura SMEs are impracticable to support the capital required for their operation because of stringent requirements and lack of collateral security. The study also concluded that SMEs do not only need financial support from government but also need support in research, quality assurance, marketing, financial management and technology. The study recommended that government should act as a guarantee to banks and credit institutions for SMEs that is by making an undertaking to pay the banks in the event of the SMEs failing to pay back. The study also recommends the use of venture capital rather than debt financing and SMEs should also form groups and make use of pooled negotiating power for borrowing purposes. Further, the study recommended the decentralisation of operating of support institutions such as SEDCO and Venture Capital Company of Zimbabwe (VCCZ) in order to reach SMEs operating in small towns and remote areas of the country. Keyword: Small to Medium Enterprises (SMEs), Venture Financing, Entrepreneur, |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://digilib.buse.ac.zw:8080/xmlui/bitstream/handle/11196/427/manyani.pdf?isAllowed=y&sequence=1 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
