SMALL SCALE INVESTMENT: A POTENTIAL TOOL FOR EMPLOYMENT GENERATION (A CASE STUDY OF FINE BROTHERS COMMUNICATION LTD, ENUGU, LIMITED)
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SMALL
SCALE INVESTMENT: A POTENTIAL TOOL FOR EMPLOYMENT GENERATION
(A
CASE STUDY OF FINE BROTHERS COMMUNICATION LTD, ENUGU, LIMITED)
PROPOSAL
This research work is aimed at small
scale investment as a tool for employment generation the study is necessary
because of the role small scale business play in the overall employment
generation and its contribution to the economic growth as well as mobilizing
the growth resources of the nation which aids the development of local
entrepreneur and the nation at the large .the study will focus attention on the
sources of finance, government polices and the role of financial institution in
the development of small scale business The study will engage both primary and
secondary sources of data in other to obtain the necessary relevant information
for the project. Questionnaires and direct interview will be carry out . also
related literature text books. Magazine, newspaper, journals etc will be review
and analyses for the project. The prominent cons tract envisaged in this
project are time and finance collection and analyses of data requires a lots of
time and this couple with the other hectic academic programmed financial
requirement such as production and distribution of questionnaires,
transportation and other expenses are another major limiting factor for
this project The study will delve into the needs for development of small
scale in the nation economy. It will also identify the task facing small scale
business establishment and operation of their business the study will also
discuss the various problem that hinder the achievement of their aims and
object of the small scale business as well as their future prospects. Possible
solution and recommendation which will foster the development of small scale
investment in the country will be offered
TABLE OF CONTENT
CHAPTER
ONE
1.1
Introduction
1.2 Background of the
Study
1.3 Statement of the
Research
Problem
1.4 The Research
Question
1.5 The significant
of the
study
1.6 Research
Methodology
1.7 Scope and the
Limitation of the Study
1.8 Definition of the
Terms
CHAPTER
TWO
2.1
Introduction
2.2`Definition of Small-Scale
Investment
2.3 Form of Business
Ownership
2.4 Types of Small-Scale
Business
2.5 Setting up a Small Scale
Business
2.6 Objective of small-scale
business
2.7 Sources of finance for Small-Scale
Business
2.8 Procedures for Acquiring a Business
Loan
2.9 Importance of Small Scale
Business
2.10 Business challenges of small scale
Business
2.11 Government polices for promoting
small scale
investment
2.12
The role of financial Institution in the
Development of
Small-Scale
Business
2.13 Credit analysis of business
enterprises by lending
institutions
2.14 The basic Principal for Cannon of
Bank Lending
2.15 Function of Government Support
Agencies
2.16 Employment Generating Capacity of
Small-Scale
Industries
2.17 Problem faced by small scale
investments
2.18 Prospect of Small Scale
Investment
References
CHAPTER THREE
Research
Methodology
3.1
Introduction
3.2 Source of
Data
3.3 Method of Data
Collection
3.4
Population
3.5 Sampling
Techniques
3.6 Validity and Reliability of
Data
Reference
CHAPTER FOUR
4.0
Data Presentation and
Analysis
4.1
Introduction
4.2 Data Presentation and
Analysis
4.3 Interpretation of Data
4.4 Analyzed of Research
Findings
4.5 Test and Prove Of
Hypothesis
CHAPTER
FIVE
Summary, Conclusion and Recommendation
5.1
Introduction
5.2
Conclusion
5.4
Recommendation
Bibliography
Questionnaires
CHAPTER ONE
1.1 INTRODUCTION
Nigeria as a nation
blessed with both human and natural resources can attain high economic
development with little effort and sincerity on the part of her citizens. One
of the ways to achieve this economic development is through the establishment
of an industries to process the huge maturely resources into conformable goods.
Therefore the establishment of small-scale industries all over the country is a
right step in the right direction. This will help the country to channel both
her human and natural resources to the productive area to enhance economic
growth.
The view has been
held by many in the government, academic and business circle that small scale
business should be treated separately from the large firms thus small scale
businesses one frequently seen facing a range of problem than the larger ones.
The Nigeria business environment offers
business opportunities. With the Nigeria business promotion degree of 1972
which was revised in 1977 and with various federal and state government
business assistance, the economic environment is encouraging for business
pursuit in addition, the small industries division of the federal ministry of
industry has also be instituted to the further the interest of small scale
business in response, small scale business are being established everyday but
with survival difficulties some years back the family support programmed under
the auspices of the family economic advance programs pledged to established
small scale business in all local government area of the country the national
directorate of employment (NDE) gives grants to beneficiaries so that they can
start their own small scale enterprises. Also the Nigeria agricultural land
development agency (NALDA) was put in a place4 of agro based industries to grow
since most of the rural dweller are farmers the concept of people bank of
Nigeria (PBN) come to limelight and billion of naira were pumped into the bank
for on lending to small scale industrialist. Of recent the poverty alleviation
programme (PAP) was launched to encourage people to established their own small
scale enterprise to reduces the problem of unemployment and reduces the rate of
importation of goods but with all this government programmed, our
ethnocentrisms, lack of integrity and management myopia did not allow some of
these programmed to achieve the much we expected from them.
Small scale business rely move
proportionately on loan and grant to finance there, business operation. In many
countries of the world, loans and grant have become the tools for improving
small scale business. The need these tools for enhancing the productivity of
their business the need these for enhancing the productivity of their business
more so loan serve as the foundation upon which all business both small and big
are built.
Unfortunately, the
mortality rates of both old and new small-scale businesses high. It has been
estimated that less than ten (10) out of every twenty (20) small-scale
businesses established survival in the very year of its operations.
Observations have also shown that small scale businesses do not perform to
expectations due to lack of knowledge of source of finance potentials open to their
owners. The effect of failure of small-scale businesses on employment can only
be imagined. The need therefore to accord small-scale businesses special
attention for employment generation and economic growth becomes more relevant
now that the economy is undergoing difficulties. The researcher therefore
consider it necessary to carry out this study so as to evaluate the
contributions to economic growth as well as employment generations and to
proffer possible solutions and recommendations which will foster the
development of small scale investments.
1.2
BACKGROUND OF THE STUDY
In the world of
telecommunication, which involves the transmission of one or more signals, of
voice, data, video, Internet and fax over a short and long distances, there are
three competing and complementary technologies. These are wired, wireless and
satellite. Prior to the entry of Global System of Mobile Telecommunication in
Nigeria, NITEL was the incumbent monopoly since 1963 and have operational land
lines of about five hundred thousand (500,000) serving about two hundred and
fifty thousand to three hundred and fifty thousand (250,000 – 350,000)
households and business/commercial units.
The Nigeria
Communication Commission, the national regulator successfully conducted a digital
mobile license auction exercise lasting from 17th to 19th
January 2001. The licensing process, which led to the emergence of three (3)
digital mobile operations, earned the federal government a total revenue of
eight hundred and fifty five thousand dollars. The three successful digital
mobile operators are V-mobile (0802- by then Econet), MTN (0803) and M-Tel
(0804). Globacom was later licensed 1st September 2002.
MTN Nigeria
Communication Limited secured a license to operate digital Global System for Mobile
Communication (Fine Brothers ) on February 9th , 2001.On may 16,
2001, it emerged as the first to make call on its Fine Brothers network
in the new dispensation. There after the company launched full commercial
operation beginning with Lagos, Abuja and Port Harcourt.
The company have a
salary work force of about seven thousand (7000) workers and created over
thirty thousand (30,000) indirect jobs out of its growing distributors, dealers
and vendors while coverage has extended to over one hundred (100) towns and a
total of over five thousand (5000) communities across Nigeria. It have more
than four million (4,000,000) active subscribers on its network.
Zain have changed its
name five times. It started as “Econet”, then V-dacom and now V-mobil Airtel and
now Zain. It is one of the first three (3) winners of the highly competitive
Nigeria’s Fine Brothers bid. It launched telephone services in Nigeria
with a roll out on August 1st, 2001. A truly Nigerian company, Zain
is fully owned by indigenous investors. Since its commencement of operations,
Zain has extended its coverage to over ninety major town and five thousand
communities and an active subscribers of over two million, eight hundred
thousand (2.8 million) if employ about six thousand workers and created over
twenty thousand (20,000) indirect job out of growing distributors, dealers and
vendors.
Fine
Brothers company launched service on august 29, 2003. It has been in
forefront of the revolutionary changes in the Fine Brothers sector in
Nigeria its has an aggressive coverage plan in the line with its vision to make
mobile a telephone assessable in Nigeria it become the fastest growing Fine
Brothers network in African, achieving one million subscribers and
covering over 87 cities and town over nine month of operation . it has a
subscriber based of over two million seven hundred thousand (2.7million ) and
corers over three thousand (3000) town and cities.
The advantages of Fine Brothers
in Nigeria cannot be over emphasized some these advantages are summarized
below:
a. Fine
Brothers operation creates employment opportunities directly and indirect
.direct employment are those employed by Fine Brothers companies while
indirect are those employed by the distributors dealers, and vendors.
b. It create business
opportunities to businessmen such as the distributors, dealers, vendor, Fine
Brothers , phone booth operation
c. Its saves
times and energy business can be transacted through phone thereby
saving times and energy that should has been used in traveling
and from a distance for business negotiation
d. Its saves money
transportation money that could has been used while traveling for
a business negotiation are saves as such business deals are negotiated
through the use of Fine Brothers phone
e. It eases traffic
congestion as many users of Fine Brothers remain in their offices or home and
passes any information to wherever they want without driving out.
f. It raises
revenue to their for the government through tax paid by Fine Brothers
companies
In the employment
generation of global system for mobile commendation Nigeria small-scale
businesses have the lightest shave. Many are employee as vendors, phone boot
operators and others sell Fine Brothers handset accessories such as
batteries, battery chargers covers etc. in our campuses to day one of the
fastest growing bus mess is Fine Brothers phone nosiness. Some scout for
customers on standing position others sit by a round table rousts provided by
the Fine Brothers companies. This happens in all strategic and vantage points
of all our cities and towns.
1.3 STATEMENT
OF THE RESEARCH PROBLEM
Over the years, there
is evidence that small-scale businesses have bean on the increased. This is
because more people are being educated and the fact that government can no
lounger employ most scoot leavers, Another reason is that with economic
programmers such as open apprenticeship scheme, graduate employment programmed,
poverty alleviation programmed etc. To encourage individuals to go into
private business and be self-reliance never lustrated. How ever most of the
businesses find it difficult to survive in the first fire years of its
stabs manta. When we compare small scale businesses development in
Nigeria with other countries like America, Japan, champ , twain etc, most of
these countries big businesses started form the scratch as small scale
businesses and their owners rinsed them into big businesses through hand work. The
researcher there fore consider it necessary to examining the issues be land
such state of affairs as .
1. The worsening
economic state of small scale businesses caused by the
present downswing or melt //down in the
economy,
11.
Many small-scale businesses because of crisis or depressions often send small
businesses to liquidation while others are saddled with problems and aliments
of failure.
111.
Lack of new business ideas and innovation by small-scale business
owners to implore on their operation thereby
generating more employment.
1V.
In adequate funding resulting from strict procedures placed by financial
institutions in giving out loans and advances to small scale industries.
V.
Government unstable policies towards small-scale businesses.
1.4
THE RESEARCH QUESTIONS
This study involves
to addressing the following questions;
1.
In the face of the preset economic condition what strategies are needed
to enable small scale businesses sortie or successful be
successful
11.
Would the admission of business partners be a better strategy than operating
solely?
111. Would the admission of
business panther be a better
strategy than
operating solely?
1V. Could a business
survive the economic hard ship if it
diversifies its
operations instead of concentrating on
our line of business?
V.
To what extent would stable government aid the operation and development of
small-scale businesses?
V1.
Would liability in the financial intuitions procedures in giving out
loans and advances aid the operations of small scale business thereby
generating more reemployment opportunities?.
1.4 THE
SIGNIFICANCE OF THE STUDY
In all business endeavors, the primary
objective is profit maximization. This is achieved through the provision of
goods and services at fair, competition and affordable prices. No management
can ignore profit maximization; otherwise it will find its self out of the
business hence the significant of this study are
i.
To determine whether small-scale industries play any significant role toward
the economic development of the nation
ii.
To ascertain the role-played by small-scale business on employment generation
in the country
iii.
Ascertain the role played by small-scale business as a tool for effective and
efficient utilization of resources for economic growth of the country
iv.
It is designed to educate potential and prospective businessmen and readers on
how to set up and manages small-scale business
v.
To determine the best way or ways in which the government can
support and promote the small scale business to
enable them (small scale businesses) provide more employment opportunities to
the people
1.6
RESEARCH METHODOLOGY
Considering the nature of the study,
the researcher will be used both primary and secondary sources of data writing
this project. The primary source of data will take the form of direct interview
with operators and employees working at fine brothers ltd and extensive
use of questionnaires will also be made, the simple random sampling method will
be used which will allow all unit of population to be selected. of phone
both and extensive use of questionnaires will also be made the simple random
sampling method will be used which will be used which will allow all unit of
population be selected.
The secondary sources of data will
involve gathering and analyzing existing related literature which include
textbooks, periodical and unpublished materials.
1.7
DEFINITION OF TERMS
In every write up, there are certain
words used which have different meanings to different people. It is in the
light of this the researcher decided to define the following words as used in
the study.
a.
LOAN: Amount of money collected from a bank or any other lending
institutions, which is to be repaid with interest at an agreed period and
terms.
b.
CAPITAL: Sum of money used for starting a businesses. It includes
money and other assets
such as machines, buildings, goods, etc that will be used to produce more
wealth.
c.
COLLATERAL SECURITY: These are Asset(s) pledged as security for
repayment of a loan with agreement that if the loan is not repaid with an
agreed period, it can be sold to recover the loan or debt owned.
d.
ENTREPRENEUR: An individual who has the ability to see and evaluate
business opportunities, who bear uncertainty, gather the necessary resources to
take advantage of them and initiate appropriate action to ensure success, some
how creates a business and industrial activity where none existed before.
e.
ECONOMY: The relationship between production, trade and the
supply of money in a particular
country.
i.
M-Tel: Mobile Telecommunication Limited (Nigeria)
ii.
NITEL: Nigeria Telecommunication limited.
iii.
FINE BROTHERS : Global System of Mobile Communication
iv.
Telecommunication: Communications by radio, Telephone,
Television, Cable, Telegraph or satellite.
v.
Technology: The application of scientific study and
the use of applied sciences to
practical tasks in industry.
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