THE IMPACT OF CO-OPERATIVE SOCIETIES IN PROMOTING SELF RELIANCE AND SMALL SCALE ENTERPRISE WITH A SPECIAL FOCUS IN NNEWI NORTH LOCAL GOVERNMENT AREA

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THE IMPACT OF CO-OPERATIVE SOCIETIES IN PROMOTING SELF RELIANCE AND SMALL SCALE ENTERPRISE WITH A SPECIAL FOCUS IN NNEWI NORTH LOCAL GOVERNMENT AREA

 

CHAPTER ONE

INTRODUCTION

1.1       BACKGROUND OF THE STUDY

The subject, self – reliance and small scale enterprise is a topical one and becomes even so when allied with the co-operatives. This is because there is continuity decrease of resources, particularly of the third world. There is constant search for all sorts of models, including the co-operatives to deal with small and large scale firms.

In this research, all efforts are made to explain the concept and development of self – reliance with special reference to the co-operatives societies. The performance of the co-operatives in the attainment of set objectives, the problems encountered and the prospects for the future.

Self reliance is an expression, which has overtime generated a lot of interest and has become conceptually and practically, attractive, particularly in developing countries wresting with the economic forces of meeting numerous needs with limited resources.

A former Nigeria head of state and presently Nigeria president once stated; “while it is the day of tee government to ensure that our production capacity is qualitatively and quantitatively improved, the citizen too must retrieve their taste buds for those things we do not produce (Obasanjo, 1978).

Self- reliance is one of those euphemist’s terms bonded about like bridging the gap, meeting basic needs and eco – development in the international efforts to reduce world hunger, diseases, unemployment and general poverty.

The topic was generated a lot of interest among writers and is defined as “the ability to use one’s own forces”

As government job witness contraction in the face of present economic circumstance and employment as well as salaries diminished, and all these being accompanied by inflationary tendencies self – employment is now considered the vogue for sustainable existence nowadays. The retrenched, unemployed, retired including those who resigned from salaried job, now look up to self – employed as the only saving grace.

Private enterprise, especially indigenous small scale firms have a vital role to pray in promoting the social and economic well being of the nation. Hence indigenous entrepreneurship is likely to be much more importance in small scale business than in large scale firms. The promotion of small business is a well recognized and much more heralded strategy of industrial development in – developing countries and managerial skills.

Increased productivity, national income, market leadership, gigantic technological innovative of and sagacity of Japan, America and other developed countries are based on the foundation held by small – scale industries. Although, economic activities of developed and developing countries are sometimes viewed to be eliminated by large scale business such as coca – cola, Toyota, Honda, UAC, John Holt, etc. however, it is important to note that the present day giant companies were once small scale industries which grew over the years to become giant companies.

It is true that Nigerians are not new to small scale enterprise. However, economic depression had widened the horizon of such enterprise.

In view of the impact of small scale industries in improving the socio – economic conditions of a nation, most developed and developing countries have made initiatives to promote indigenous enterprise. In Nigeria for example typical action of the government take form of policy initiatives and directives to organization such as ministry of commerce, national directorate of employment (NDE), ministry of labour and productivity, centre for management and development, research institutes are to ct as executing  agencies with responsibility for stimulating and sustaining entrepreneurship development also, various polytechnics and universities now run various entrepreneurship development programmes aimed at impacting the skills to potential industrialists

In Nigeria and worldwide, there is no specific definition of small scale business. Different authors, scholars authorities and schools have different ideas is to what a small business is, for instance. The US Committee for Economic Development (C.E.D) has developed the following definitions of a small scale business.

A small scale business is one which possesses at least two of the following four characteristic:

  1. Management usually the mangers are also the owners.
  2. Capital is supplied and ownership is held by individual or small group.
  3. The area of operation is mainly local
  4. The relative size of the firm within its industries must be small when compared with the biggest firms in its field.

The third national development plan defined small business as A manufacturing establishment employing less than ten people or whose investment in machinery and equipment do not exceed six hundred thousand naira (600, 00.00).

 

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THE IMPACT OF CO-OPERATIVE SOCIETIES IN PROMOTING SELF – RELIANCE AND SMALL SCALE ENTERPRISE WITH A SPECIAL FOCUS IN NNEWI NORTH LOCAL GOVERNMENT AREA

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