FINANCING SMALL SCALE INDUSTRY, A CASE STUDY INDUSTRY IN EDO STATE WITH PARTICULAR REFERENCE TO OREDO LOCAL GOVERNMENT AREA
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FINANCING SMALL SCALE
INDUSTRY, A CASE STUDY INDUSTRY IN EDO STATE WITH PARTICULAR REFERENCE TO OREDO
LOCAL GOVERNMENT AREA
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)
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
(B)
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.
(C)
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
(D)
CHAPTER FOUR (PRESNTATION OF DATA AND DISCUSSION OF RESULTS)
(F)
CHAPTER FIVE
5.1 Summary
5.1 Summary
5.2
Conclusion
5.3
Recommendation
(E)
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
1.7`
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.
1.9
DEFINATION OF MAJOR CONCEPTS AND TERMS
1.
POULTRY: Consist monthly of local reared under free range
conclusion. It is the different categories of birds, duck, chicken e.t.c.
2
POULTRY INDUSTRY: Is a farm yard where birds are reared for the
roduction of eggs, and where feeds are purchased
for the birds.
3.
DOMESTICATED: Rearing of birds in the poultry farm.
4.
FINANCE: It is concerned with the raising and management of funds
y big firms.
5.
SHORT TERM CREDIT: This is a loan that is suppose to be paid back later
or a short period of time.
6.
LONG TERM CREDIT: Repayment of loans made over several years
profit.
7.
CREDIT: Credit is the borrowing of money by the farmers from credit
institution in other to increase production.
8.
INPUTS: These resources which are used in production process.
9.
OUTPUTS: The total item produce such as eggs on birds at a given
period
of time.
10.
FINANCIAL HOUSE: These are government private institution that
assists investors financially in
carrying out their business effectively.
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