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Revenue Collection At The Local Government Level Problems And Prospects
[A CASE STUDY OF ILORIN EAST LOCAL GOVERNMENT]
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1.3 AIMS AND OBJECTIVES OF THE STUDY
1. To identify and discuss various problems faced by small scale enterprises, which has been and may continue to be the major factors of banks in sensitiveness to finance is the needs of small scale industries.
2. To analyze the government effort aimed at financing the industrial sector in this economy between 1985 and what year.
3. To see whether government through monetary policy rules encouraging and directing banks to finance this smalls scale enterprises through its monetary policy circular and the effectiveness of this policy.
1.4 RESEARCH HYPOTHESIS
Information was collected from both primary and secondary sources. Analysis was based on sources of finance for small scale business and the financial account of financial institution. Questionnaire were drawn from where of which gave an opportunity to major sources and users of funds of small – scale enterprises. And interview was drawn from some of commercial banks for fiancé of the small scale business opinions were sample and these was hypothetical/tested for an inference which was drawn.
For the purpose of this studies the following hypothesis has been formulated; main hypothesis, this states, that small scale business was finance by financial institution or its was financed by the personal savings, individual sponsor, or borrowed from relatives and retained earnings.
1.6 SIGNIFICANCE OF THE STUDY
Despite the fact that the study enjoys substantial advantages on every small firms, it should be observed that this level of industrialization, economies development and resources supports the suitability of small scale enterpsies for optimum result in most types of activities and have persistently ensure the continues existence and viability of so many business. Many developing countries (Nigeria inclusive) have realized that. It is an illusion to think that importance substitution strategy through large-scale industries will be a quick and rapid industrialization and economic development. The experience of countries like India, Malaysia south Korea/ Thailand etc had shown that promotion and development of small scale enterprises through a relatively slow process of industrialization is a sure strategy for economic growth and development.
1.6 SCOPE AND LIMITATION OF THE STUDY
The Commercial bank like other financial institutions are to provide finance for small-scale business, they are among the banks expected to accelerate the high rate of economic growth.
The study will focus on union bank and small scale enterprises as partners in progress in achieving sustainable rate of economic growth and development. The researcher will also look into some financial account of both small scale enterprises and the financial statement of some financial institution especially union bank. Also the project will be limited to banks and federal government roles in wasting the activities of small scale enterprises. The importance of development and problems facing the small-scale business.
1.7 DEFINITION OF THE TERMS
The definition of terms used in this project under the chapter one are as follows.
FINANCE: Relating to money or management of money; financial transaction/ financial assistance, organiz farmer, should be encouraged with financial incentives. It can also be defined as money used to run a business an activities or a project.
SMALLS SCALE: the central bank of Nigeria defined small scale business as any business with annual turnover ranging from N10,000.00 to N50,000.00. small scale industries are generally low in the number of persons employed the amount of investment and the annual business turnover.
FINANCIAL INSTITUTION: This can be defined as a business organization in which customers borrows money. It can also be defined as the financial market for financial service i.e. commodity that is being traded is fund.
1.8 PLAN AND ORGANIZATION OF THE STUDY
The research will be divided into five chapters, chapter one deals with the background of the study, research problem, aims and objectives of the study, scope and limitationi of the study, significant of the study and research hypothesis. Chapter two deals with literature review which will focus more on Nigeria even through foreign literature that are relevant may be used to explain if it is found useful chapter three is based on the research methodology method of data collections, sample population and sample techniques while chapter four is based on the historical background of the union Bank plc.
data presentation and analysis, the hypothesis, finally, chapter five is base on summary, conclusion, recommendation and reference
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