CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Cooperative societies have existed since the early times. That is to say, they began long before the Earth was created. The holy spirits or trimly (God the father, God the son, and God the holy spirit) worked together to bring the world into existence. This was due to a number of things.
Furthermore, at the time of the stone age men and their wonders, collaboration was required. This happened in the agriculture industry since it was confined to family members. After some time, things began to improve, and a community agricultural system was established. This occurred due to a number of circumstances, as well as the necessity for it.
More countries began to work together in commerce, transferring products and services from one country to the next or from one state to the next. Because there is a need for it, certain causes have given rise to it. That is to say, nothing worthwhile can exist without a need for it, or without certain causes that must have led to it, specifically these ones leading to cooperation among people nations. Countries and the globe at large are not for fetching, but rather for satisfying or measuring wants. These elements, as listed in this section’s introduction, might be beneficial or negative.
1.2 STATEMENT OF THE PROBLEM
As previously said, elements that might impact the formation of cooperatives can be good or bad. These characteristics vary from state to state, country to country, and so on. The sort of cooperative or the members participating in its activities is, nevertheless, the most crucial factor.
Many people and academics have attempted to discuss the elements that might impact the formation of cooperatives in recent years. This is due to the fact that a large number of individuals have failed to comprehend what these things are. Rather, people frequently confuse it with intentions. To put it another way, these universes are completely different. The distinction between factors and motives will be discussed later in this project.
However, in the Owerri L.G.A. in Imo State, a number of variables might impact cooperative formation. The elements that impact cooperative creation in Owerri L.G.A Imo state, according to Mr L.M. Ejwnye (chief registrar of cooperatives Imo state),
In essence, these elements are those things that have led to the identification of requirements and, as a result, to the organization of needs for the purpose of establishment.
Despite the circumstances that lead to the formation of cooperatives, many of these cooperative societies fail and break down, and this is due to a variety of factors.
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