Kardan Journal of Economics & Management Sciences

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Role of Venture Capital as a Source of Finance for Small and Medium Enterprises in Afghanistan: An Investigation

Mr. Aimal Mirza, Mr. Fahim Sabah

Volume 1 Issue 4 | Oct 2018

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Abstract

The objectives of the study were to review the types of venture capital financing in Afghanistan, identify the factors that drive the venture capital financing and impact of venture capital on small business development. The study adopted a quantitative methodology in order to investigate the subject. Questionnaires were administered on respondents. The study established that government was the main financer of venture capital financing in Afghanistan. Further, stable economic environment, investor protection and corporate governance and well developed capital markets were found to be main determinants of venture capital financing. The study also established that the role of venture capital financing played an important role in the areas of employment creation, investment, export growth as well as innovation and creativity.


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