Wealth Allocation and Determinants of Venture Capital among Poultry Agribusiness Entrepreneurs in Abia State, Nigeria

Abstract

This study examined wealth allocation and determinants of venture capital among poultry entrepreneurs in AbiaState, Nigeria. It specifically examined the socio-economic characteristics of poultry agribusiness entrepreneurs,sources of venture capital, entrepreneurs’ wealth status, and factors influencing wealth allocation, factorsinfluencing venture capital and finally examined the relationship between wealth allocation and venture capital.A simple random sampling technique was used to select forty (40) poultry agribusiness entrepreneurs andinformation was solicited via the use of well structured questionnaire. The tools for data analyses weredescriptive statistics, pie chart, coefficient of correlation and multiple regression analyses. The result revealedthat most of the respondents were young, married and had household size ranging from 6 – 10 persons withbusiness experience of 11 – 20 years. Sources of venture capital were mainly formal source of venture capital.Farm size, access to credit, and value of stock, equity shares were significant and positive variables influencingwealth allocation while personal savings, value of assets and source of capital from financial institution wereobvious variables influencing venture capital negatively. There was a strong relationship between wealthallocation and venture capital. It is recommended that government and other stakeholders involved in theagribusiness sector should provide a better market for the enhancement of the entrepreneurs’ stock value withrespect to sales of product. Further, hitch free and adequate access to credit will to greater extent improve thewealth allocation statues and venture capital volume of the entrepreneurs.