EFFECT OF ENTREPRENEURSHIP FINANCING ON SME’s PERFORMANCE IN AKWA IBOM STATE, SOUTH-SOUTH, NIGERIA.

Abstract

This study investigated the effect of entrepreneurship financing (Crowd funding, Accelerators & Incubators) on Small and Medium Enterprises (SMEs) in Akwa Ibom State, South-South region of Nigeria, focusing on Crowd funding, Accelerators, and incubators. The study adopted a survey research design and the population for the study was 576 SMEs in Akwa Ibom State as obtained from the Ministry of Industry and the Association of Entrepreneurs and Artisan in Akwa Ibom State. The Taro Yamene’s formula was used in determining the sample size of 236, convenience sampling technique was used to select the respondents for the study. A structured five-point Likert scale questionnaire was used as instrument for data collection, descriptive statistics and Smart PLS-SEM were used to analyze the data gathered for the study. The findings revealed significant effects of Crowd funding, and Accelerators & incubators on SME performance, with Accelerators and incubators demonstrating the most substantial influence. The study recommends the promotion and facilitation of crowdfunding platforms in Akwa Ibom State, South-South region to enhance SME performance through the creation of a conducive
environment and regulatory frameworks. Additionally, strategic investment in accelerators and incubators is recommended, emphasizing alignment with SME needs and sectors to maximize their positive impact. These proposed measures aim to instill confidence in crowdfunding mechanisms and offer tailored support to foster SME growth and success in the region.