Abstract:

This research examines the nexus between entrepreneurial finance (EF) and entrepreneurial development (ED) as well as the moderating role of institutional finance agencies (IFA) in Nigeria. We employed a survey approach using questionnaires and interviews to elucidate information gathered from 450 entrepreneurs and five selected institutional finance agencies. In this regard, 450 questionnaires were circulated, and only 300 copies were retrieved from the respondents. Data retrieved was subject to examination using the bivariate correlation and multiple linear regression. The outcomes revealed that EF was strongly correlated and significantly related to ED. Furthermore, the test for the multicollinearity on the moderating role of institutional finance agencies indicated that IFA had a relationship with EF (R2 337, p < 0.05, β .581) and ED (R2 .384, p < 0.05, β .618). The result further indicated that IFA contributes significantly to both EF and ED. This study underscores the practical knowledge of EF and how it can lead to the ED of micro, small, and medium enterprises (MSMEs) and also provides adequate information on the institutional framework. JEL Classification : M1

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