The problems of venture capital financing of SMEs in Tunisia
DOI:
https://doi.org/10.55927/eajmr.v4i12.520Keywords:
Venture capital, SMEs, Tunisia, Financial constraints, Investment ecosystemAbstract
This study explores the persistent challenges that Tunisian small and medium-sized enterprises (SMEs) face in accessing venture capital financing. Despite its crucial role in supporting innovation and entrepreneurship, venture capital remains underdeveloped in Tunisia due to multiple institutional, regulatory, and socio-economic constraints. The research highlights the main barriers that limit investor engagement, including weak legal protection, complex taxation, limited investment networks, and the immaturity of entrepreneurial projects. Based on recent academic contributions and a proposed econometric model, this paper aims to identify the key determinants influencing venture capital access and to provide policy recommendations for improving the financial environment of Tunisian SMEs. The findings seek to contribute to both academic understanding and practical decision-making regarding SME financing in emerging economies.
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