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FINANCING SMALL SCALE
INDUSTRY, A CASE STUDY INDUSTRY IN EDO STATE
ABSTRACT
The sudden increase in financing
small-scale industry has continue to agitate the of the public in the recent
times, poultry farming as one fact is to be accorded its deserves. The poultry
industry became commercialized in Nigeria about the year 1962. However local
production started in 1960s and 70s in Edo State. That is formally called Bendel
State with very low output. The main objectives of this study examine the
various source of financing available to small-scale poultry farmers as well as
the problem encounter by those farmers in trying to obtain loan from existing
financial institutions. The hypothesis of this study is that poor performance
in the poultry industries in Edo State is dependent on poor finance and lack of
skilled management. In the course of this work, the adopted methodology
included personal interviews, library, research and the use of questioners.
In the review of literature, it was found that the
major source of finance is through any authorized financial institution,
personal savings and ploughing back profit generated. Evidence from the study
reveal that poultry industry has a role to play in the economy, and the
individual lives in particular in general, this industry provides protein for
the mental and physical health of the people, employment and revenue, which
helps in improving the life style of the society.
TABLE OF CONTENT
(A) PRELIMINARY
SECTION (PAEGS)
(1) Table
of content
(2) List
of tables
(3) Abstract
(B) CHAPTER
ONE ( INTRODUCTION)
1.1 Background
of the study
1.2 Statement
of the problem
1.3 Research
question
1.4 Scope
and limitation of the study
1.5 Methodology
1.6 Needs
fort the study
1.7 Definition
of terms
(C) CHAPTER
TWO- (REVIEW OF RELATED LITERATURE)
2.1 meaning
and definition of small scale industry
2.2 source
of finance
2.3 Problem
confronting poultry farmers.
(D) CHAPTER
THREE- METHODOLOY AND PROCEDURE OF THE STUDY
3.1 Research
design
3.2 Population
of the study
3.3 Sample
of the study
3.4 Samplings
techniques adopted
3.5 Instrumentation
3.6 Validation
of instrument
3.7 Method
of data collection
3.8 Method
of data analysis
(E) CHAPTER
FOUR (PRESNTATION OF DATA AND DISCUSSION OF RESULTS)
(F) CHAPTER FIVE
5.1 Summary
5.1 Summary
5.2 Conclusion
5.3 Recommendation
(F)
BIBLORAPHY
CHAPTER ONE
1.1
INTRODUCTION
Oredo is one of the local government area in Edo state. Its headquarter is
Benin city which incidentally is the capital and administrative centre of Edo
state. Oredo is situated between latitude 60 and 60, 120N
and longitude 50 ,45 E. The traditional inheritance of Edo state Government
Areas are Binis who are the Edo speaking people. However, English language is
used for day to day commercial activities in the area.
Economic activities of the people in Benin city are many and varial ,the
traditional occupation of the people are farming, sculpture, cloth weaving,
poultry, brass-casting, blacksmith, menting, traditional e.t.c
Today, however industries and large commercial concerns are fast springing up,
Benin has a good number of industries. It has the infrastructure and the market
potentialities to encourage industries which are market oriented.
According to peter M.A, which says in the basic business management 1972 that
states among Benin many Economic activities are saw-millers, rubber processing,
manufacture of confectioneries, making of soft drinks, breweries of lager beer
and poultry keeping which is the main focus of the study.
The elites and educated ones in Oredo local government area are mainly civil
and public servants employed in government offices, marcentle houses and in
banks in Benin city are mainly commercial and others, they undertake all normal
banking services and other miscellaneous services. The dormant economic
activities of the people as earlier mentioned can be from through personal
selling, borrowing from friends, relations, Banks and other financial
institution as well as ploughing back profit.
Ensminger
M.E state that the term poultry covers rather a wide variety of birds
consisting of several spaces. It includes chicken, duck, geese, guneia fowl
e.t.c.
In
most villages in Oredo local government area, a large number of domestic fowls
are found roaring about. This is the local way of rearing birds under the free
range condition. A farmer may own one or more hen or cocks. Virtually no care
is taken of the birds can pick up for themselves by hatching there. As a
result, much finance was not needed because production was on a substance
basis.
In
some places like Benin city, Sapele and Uromi to mention just a few, the
poultry industry has been seen as a specialized industries by the people.
Poultry industries has not attained the maximum level of output because of lack
of co-ordinated policy at both the national and state level with regard to
financing technological and managerial assistance not withstanding poultry
farming yields the quickest return of all known living stock farming. It can
also be established with a minimum cost. This industry provide several
employment opportunity both in the private and public sector of the economy.
About 30% of the Nigeria labour force has been attributed to small scale
industries ,so emphasis is now on commercial production and effective
management of this lucrative business for the government to help finance this
important industries.
1.2 STATEMENT OF THE PROBLEM
The system of financing poultry industries has numerous problems which have led
to poor performance of small scale poultry industries in Oredo local government
areas.
1.3
RESEARCH QUESTION
1. Does financial
constrain makes it difficult for these poultry farmers innovate or carry out
research work. acquire new plants and machines as well as capital for
improvement
2. Does lack of improved
method of poultry management affect the production level.
3. It is true that
government and other organizations are fully involved in poultry management in
poultry industries.
4. Despite the quick rate
of turnover in poultry business, are there still enough competent farmers.
5. Does a survey carried
out in Benin city shows that these farms were related, neglected in terms
of credit allocation?
In view of the above stated, problem
comprehensive study has been carried out on the causes of these problems and
with a
view of finding solution or remedies.
1.4
OBJECTIVES OF STUDY
The main objectives of these study is to examine the various source of finance
available to small scale poultry industries in Oredo local government area. A
complimentary objectives is to identify the problems encountered by poultry
farmers in obtaining loans in other to enhance their contributors to the
economic development of this nation in general and Edo state in particular.
HYPOTHESIS
The hypothesis of this study is that the poor performance in the poultry
industries is depended on the following.
i There
is no significant difference between poor finance and lack of skilled
management in a small scale poultry industries.
ii There is no
significant differences between poor farmers performance and good capital
utilization rate
1.6
SCOPE/LIMITATION OF STUDY
The scope of this study covers the financing of small scale poultry industry in
Edo state. Emphasis will be laid, no problems encountered by poultry farmers in
an attempt to secure loans. The area of interest will be seen in Oredo local
government areas.
Other limitation placed on this study include the following:
i The
space of time within which the work is expected to be ready
ii The
availability and authenticity of the research result is limited to the
respondent especially during oral interview.
1.7`
METHODOLOGY
Data’s for this study will be obtained mainly by relying on available published
data, such as the use of libral research working through past project, journals
magazines and the natural duties.
To
obtain primary data, I have to pay a visit to the poultry farmers, ministry of
financial institutions were also visited in addition, interviews were conducted
orally questionnaires were used.
1.8
THE NEED FOR STUDY
Besides adequate man power, need finance to finance another major contributed
to the growth of any industry one will readily find out that even associated
with the growth of industries centre on finance hence the research of its
nature (source and problems of financing small scale poultry industries.
This study can be recommended to the state federal government and financial
houses for a deep and wider study.
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