Innovations, Number 79 December 2024 783 www.journal-innovations.com Entrepreneurial Financing and Small Business Enterprise Performance in Enugu State Okonkwo,Chukwudi Joseph 1 , Chineze Ifechukwu-Jacobs 2 , & Chukwujekwu Jeffery Obiezekwem 3 1,2,3 Chukwuemeka Odumegwu Ojukwu University, Igbariam, Anambra State, Nigeria Corresponding Author: Chukwudi Joseph Okonkwo Abstract This study explores the effect of entrepreneurial financing on the financial performance of small business enterprises (SBEs) in Enugu State, Nigeria. The purpose is to investigate both formal and informal financing sources influence on small business success. A descriptive survey design was used.The sample size was determined based on the Borg & Gall formula, resulting in a total of 270 respondents. A structured questionnaire was developed as the primary data collection instrument, and administered to 270 small businesses cut across the State.Descriptive statistics, such as frequencies, percentages, means, and standard deviations, were utilized to summarize survey responses. The study also used regression analysis for data analysis at 5% level of significance.The findings show that both formal and informal financing have significant positive effects on business performance. The study concludes that policymakers should support both financing avenues and recommends further research on their long-term impact. Entrepreneurs should also be educated on optimizing these financing sources. Keywords: Entrepreneurial Financing, Small Business Enterprise, Performance, Enugu State. Introduction Small business enterprises (SBEs) are crucial drivers of economic growth, employment creation, and poverty reduction, particularly in developing countries like Nigeria. These enterprises dominate Nigeria's private sector and contribute significantly to GDP, accounting for 48% of national output and 84% of total employment (SMEDAN, 2021). Small enterprises employ between 10 and 49 employees and having a capital base from ₦5 million to ₦50 million so once a Innovations