+44-7897-074717Short Communication - Journal of Research in International Business and Management ( 2020) Volume 7, Issue 3
Received: 20-Jul-2020 Published: 22-Sep-2020
This paper examined entrepreneurial finance and innovation in Nigeria, a challenge of sustainability. The increasingly supportive role played by financial intermediaries, such as venture capitalists and angels, in nurturing entrepreneurial firms and in promoting product market innovation significantly impact on society. The contribution of entrepreneurship in the economic development cannot be over-emphasized as a change agent and as a prime mover of any economy. Despite the supportive roles of financial intermediaries, many entrepreneurship firms in Nigeria are bedeviled by so many challenges that hinder their ability to survive long.
This paper examined entrepreneurial finance and innovation in Nigeria, a challenge of sustainability. The increasingly supportive role played by financial intermediaries, such as venture capitalists and angels, in nurturing entrepreneurial firms and in promoting product market innovation significantly impact on society. The contribution of entrepreneurship in the economic development cannot be over-emphasized as a change agent and as a prime mover of any economy. Despite the supportive roles of financial intermediaries, many entrepreneurship firms in Nigeria are bedeviled by so many challenges that hinder their ability to survive long. Power supply, restrictive access to funds, among others has continued to be a nightmare to entrepreneurship success in Nigeria. Besides, the mere availability of finance alone cannot guarantee entrepreneurship success in Nigeria but with the management of innovation, including radical or incremental changes in products, processes and markets, as well ensuring that appropriate financial strategies for the funding/investment needs of an enterprise are put in place.