Firm Growth: Access to Venture Capital Finance

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Author(s): Bernard Owens Imarhiagbe (Kingston University, UK), George Saridakis (University of Kent, UK)and David Smallbone (Kingston University, UK)
Copyright: 2019
Pages: 35
Source title: Entrepreneurial Orientation and Opportunities for Global Economic Growth
Source Author(s)/Editor(s): Orlando Lima Rua (Polytechnic of Porto, Portugal)
DOI: 10.4018/978-1-5225-6942-8.ch009

Keywords: Business & Management / Business Science Reference / Economics & Economic Theory / Entrepreneurship

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Abstract

Venture capital (VC) is an alternative means of access to finance for innovative SMEs to sustain their innovation, growth, and survival. Although VC firms are well established in the UK and USA, they are not well-known worldwide and many SMEs are unaware of their potential. This is a review of research literature on VC, its conceptualization, and synthesis over four decades. VC is gaining increased and varied significance worldwide as a way for innovative SMEs to access funds. Globalization has provided entrepreneurs the opportunity to seek VC globally as reputable VC firms are able to fund innovative projects across countries and continents. As the legal and regulatory regime improve, VC finance opportunities increase with impact on the demand and supply of VC. Innovative SMEs are encouraged to take advantage of globalization and competition among VC firms in their search for VC. Recently, VC firms have become more risk averse regardless of their traditional competence in screening and monitoring.

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