I was born and have lived in Venezuela... I do not think they have a Socialism, most of the big companies are owned by the state, the largest one being PDVSA which is the OIL company.
You also have private companies that pay taxes just like in any other capitalist country, some of them are broke but that doesnt mean Venezuela is a socialism. If you go down the street to a bakery to buy some bread, that bakery is owned by a business man who is usually richer than most venezuelans so there is also inequality and different social classes. There are few rich people with nice cars and some even have yacths and then you have the extreme poor who depend on goverment subsidies.
In conclusion, Venezuela is a state capitalism with a lot of social subsidy and inequality... not socialist.