General aviation pilot reported a near miss with a business jet on final approach at VNC non-towered airport. The pilot performed a go-around to resolve the conflict; then landed.

Narrative

I believe I was the only aircraft in the traffic pattern as I announced on right downwind leg for active Runway 13 (always right traffic pattern) at VNC when I heard Aircraft Y report; on a 5 mile final straight-in approach for Runway 13 at VNC." I knew that could possibly be a traffic conflict; so I started searching the final approach area for him. I thought that when I did see him I would extend my downwind leg and follow him in for landing because that would be the most courteous and safest thing to do. Plus it gives me more flying time. It happens a lot at VNC because of all the traffic. My pre-landing checklist was all complete so I had plenty of time to look for him; but I could not see him. Since I did not see him; I turned right onto my base leg. In a few seconds; I heard him announce; "a 1 mile straight-in final for Runway 13 at Venice." That scared me! I looked out my left window again and saw him coming toward me; and I could see that he would pass behind me. I immediately applied full throttle to accelerate and give us additional horizontal separation from his flight path. He did nothing. I did a go-around to follow him in for landing. When I started the go-around; he called out; "what are you doing?!" I immediately responded that I was going around and turning to follow him in for landing since he had cut me off. He then responded that "he had called in on a 5 mile straight-in final for Runway 13." He then made a normal landing and so did I. I think that both of us could have made more frequent position reports to alert each other to a possible traffic conflict. Also; straight in VFR approaches are frowned upon by the FAA."