CONTRIBUTIONS OF UNITED BANKS TO THE DEVELOPMENT OF SMALL SCALE ENTERPRISES IN NIGERIA

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CONTRIBUTIONS OF UNITED BANKS TO THE DEVELOPMENT OF SMALL SCALE ENTERPRISES IN NIGERIA

TABLE OF CONTENTS

Title Page – – – – – – – – – – i

Declaration – – – – – – – – – ii

Approval Page – – – – – – – – – iii

Dedication – – – – – – – – – – iv

Acknowledgment – – – – – – – – v

Abstract – – – – – – – – – – vii

Table of Contents – – – – – – – – viii

CHAPTER ONE: INTRODUCTION

1.1 Background of the study – – – – – – 1

1.2 Statement of the Problem – – – – – – 2

1.3 Objectives of the Study – – – – – – 3

1.4 Significance of the Study – – – – – – 3

1.5 Research Questions – – – – – – – 4

1.5.1 Statement of Hypotheses – – – – – – 5

1.6 Scope of the Study – – – – – – – 5

1.7 Limitation of the Study – – – – – – 6

CHAPTER TWO: LITERATURE REVIEW

2.1 Introduction – – – – – – – – 7

2.2 Definition of Small Scale Enterprises – – – – 7

2.3 Benefits of Small Businesses – – – – – 10

2.4 Problems and Challenges of Small Scale Businesses – 11

2.5 Financing Small Scale Enterprises – – – – 14

2.6 Definition of Bank – – – – – – – 19

2.7 Roles of Banks in the Development of Small Scale Business 21

2.8 Summary of the Review – – – – – – 22

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Introduction – – – – – – – – 24

3.2 Research Design – – – – – – – 24

3.3 Area of the Study – – – – – – – 24

3.4 Population of the Study – – – – – – 25

3.5 Sample Size and Sampling Technique – – – – 25

3.6 Instrument of Data Collection – – – – – 25

3.7 Validation of Instrument – – – – – – 26

3.8 Reliability of Instrument – – – – – – 26

3.9 Method of Data Collection – – – – – – 27

3.10 Method of Data Analysis – – – – – – 27

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Introduction – – – – – – – – 29

4.2 Characteristics of the Respondents – – – – 29

4.3 Data Presentation and Analysis – – – – – 30

4.4 Testing of Hypothesis – – – – – – – 33

4.5 Summary of Findings – – – – – – – 36

4.6 Discussion of Findings – – – – – – 36

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary – – – – – – – – – 39

5.2 Conclusion – – – – – – – – – 41

5.3 Recommendations – – – – – – – 42

5.4 Suggestion for Further Study – – – – – 43

Bibliography – – – – – – – – 44

Appendix I – – – – – – – – – 46

Appendix II – – – – – – – – 47

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

In both developed and developing countries, the small scale industry is seen as the vehicle for rapid industrialization, sustainable economic growth and development, poverty alleviation as well as the seed bed of innovation and employment generation. It goes without saying therefore, that small scale enterprises have the potential of becoming the engine of the economic growth in any country (http://www.snbd.com, July 8 2010).

Because of this paramount importance of small scale businesses, there has been a pressing need for the involvement of banks in financing its development in Nigeria and Nigeria in particular. This is due to the fact that banks loans constitute the most important source of institutional financing for both start-up and growing enterprises.

It is the realization of this fact that made the government to establish various schemes and programmers in the past to enhance credit availability to small scale enterprise in Nigeria. In recent time now however, the Nigeria bankers committee in 1999, approved the scheme requiring all banks in Nigeria to set aside 10 percent of their profit before Tax (PBT) for equity development in small scale and medium scale industry.

Despite these measures, many small scale businesses with economic potentials for growth often fail and close down due to lack of funds, insufficient working capital, lack of managerial experience and skilled labor, poor accounting records as well as lack of infrastructural facilities (central Bank of Nigeria: the billon, October/December 2004:58-b5)

Thus, how banks have contributed to improving the aforementioned challenges and the expectations, regarding the development of small scale enterprise in Nigeria are the issues discusses in research work.

1.2 Statement of the Problem

Although the small scale enterprise is regarded as the bedrock of industrialization of an economy, attempts made by many entrepreneurs to start and operate them have met with high percentage of failures, lack of fund and insufficient working capital have identified as some of the cause of such failures. The study therefore seeks to answer such questions as; have banks been able to make available capital on affordable terms to small scale enterprise? What measures have been put in place to ensure that such funds are effectively used by enterprises? Does small scale enterprise actually have easy access to credit facilities? These and more issues constitute the problems that necessitate this research work

1.3 Objective of the Study

The objective of this research work are :

To evaluate the role of banks in financing small scale enterprise in Nigeria.
To indentify challenges faced by small scale businesses in accessing loans
To identify possible factors handing implantation of credit policies on loans and advance to small scale entrepreneur.

1.4 Significance of the Study

The significance of this study is that, it shows the relevance of banks in financing small scale businesses, thus enhancing business growth and expansion an attainment of goals and objective of the business. It is also beneficial for formulation of policies and programmes by the federal and state government as they might be looking forward to taking necessary steps to prevent the collapse or failure of small scale businesses in Nigeria and Nigeria in particular. Again, it will enable the entrepreneurs to have more understanding of how businesses should be financed, thus having knowledge on funding further research in this area.

1.5 Research Questions

For the purpose of this research work, the following questions would serve as a guide to evaluate the development role played by the united bank for African (UBA) plc.

Is capital made available on affordable terms to small scale enterprise?
Are there challenges facing small scale enterprise in accessing bank loan?
What factor hinders implementation of credit policies on loans and advances to small scale entrepreneurs?

1.5.1 Statement of Hypotheses

H₀: Capital is not made available to small business on affordable terms.

H₁: Capital is made available to small business on affordable term.

H₀: There are no challenges facing small scale business in accessing bank loans and advances.

H₁: There are challenges facing small scale business in accessing bank loans and advances.

H₀: There are no factors hindering implementation of credit policies on loans and advances to small scale businesses.

H₁: There are factors hindering implementation of credit policies on loans and advances to small scale businesses.

1.6 Scope of the Study

This research work is limited to cover the development in terms of financing the small scale business enterprise in Nigeria using the united Bank for Africa Plc as a case study, with a view to highlighting related problems and proposing solutions to the problems.

1.7 Limitation of the Study

This study is constrained by the cost of acquiring information as the researcher had to browse on the internet, search academic journals and books relating to the subject matter of the research work. Also, considering limited time, other competition course works with this study does not allow for exhaustive research work.

AN INVESTIGATION INTO THE AVAILABILITY AND UTILIZATION OF EARLY CHILDHOOD EDUCATION RESOURCES IN RURAL NIGERIAN COMMUNITIES

CHAPTER ONE:

INTRODUCTION

1.1 Background of the Study

Early childhood education (ECE) is widely recognized as a critical foundation for lifelong learning and development. It is during these formative years that children acquire essential cognitive, social, and emotional skills that influence their future educational achievements and overall well-being. In Nigeria, the importance of early childhood education is acknowledged in both policy and practice, with the government and various stakeholders advocating for the provision of quality ECE to all children, regardless of their socio-economic background or geographic location.

However, despite these efforts, significant disparities exist in the availability and utilization of early childhood education resources between urban and rural areas. Rural Nigerian communities, in particular, face numerous challenges in providing adequate ECE due to factors such as poverty, inadequate infrastructure, and limited access to educational materials and trained educators. These challenges have far-reaching implications for the development of children in these communities, potentially widening the educational gap between urban and rural areas and perpetuating cycles of poverty and inequality.

This study seeks to investigate the availability and utilization of early childhood education resources in rural Nigerian communities. It aims to identify the key factors influencing the provision of ECE in these areas and to explore how these resources are being utilized to support early learning and development. By examining the current state of ECE resources in rural communities, the study will provide valuable insights into the challenges and opportunities for improving the quality of early childhood education in these underserved areas.

1.2 Statement of the Problem

Despite the recognized importance of early childhood education, many rural Nigerian communities continue to struggle with inadequate ECE resources. The lack of infrastructure, educational materials, and qualified teachers poses significant barriers to providing quality education to young children in these areas. As a result, children in rural communities are often disadvantaged from the outset, with limited opportunities to develop the foundational skills necessary for success in later stages of education.

The problem is further exacerbated by the uneven distribution of resources, with urban areas generally receiving more attention and investment than their rural counterparts. This imbalance has led to a situation where many rural children are unable to access the same level of educational opportunities as those in urban areas, contributing to ongoing educational and socio-economic inequalities.

This study addresses the urgent need to understand the current state of early childhood education resources in rural Nigerian communities. It seeks to uncover the specific challenges these communities face and to explore how existing resources are being utilized to support early learning. By doing so, the study aims to inform policy and practice, helping to bridge the gap between urban and rural education and ensuring that all Nigerian children have access to quality early childhood education.

1.3 Objectives of the Study

The primary objective of this study is to investigate the availability and utilization of early childhood education resources in rural Nigerian communities. Specifically, the study aims to:

Identify the types of early childhood education resources available in rural Nigerian communities.

Assess the adequacy of these resources in meeting the needs of early learners in rural areas.

Explore how available resources are being utilized in early childhood education settings.

Identify the challenges faced by rural communities in accessing and utilizing early childhood education resources.

Provide recommendations for improving the availability and utilization of early childhood education resources in rural Nigerian communities.

1.4 Research Questions

The study will be guided by the following research questions:

What types of early childhood education resources are available in rural Nigerian communities?

Are the available resources adequate to meet the educational needs of early learners in these communities?

How are early childhood education resources being utilized in rural Nigerian communities?

What challenges do rural communities face in accessing and utilizing early childhood education resources?

What strategies can be implemented to improve the availability and utilization of early childhood education resources in rural Nigerian communities?

1.5 Significance of the Study

This study is significant for several reasons. First, it addresses a critical gap in the literature on early childhood education in Nigeria, particularly in the context of rural communities. By focusing on the availability and utilization of ECE resources in these underserved areas, the study provides valuable insights into the specific challenges and needs of rural educators and learners.

Second, the findings of this study have the potential to inform policy and practice at both the local and national levels. By identifying the key barriers to providing quality early childhood education in rural communities, the study can help policymakers and stakeholders develop targeted interventions to improve resource allocation and utilization in these areas.

Finally, the study contributes to the broader goal of promoting educational equity in Nigeria. By highlighting the disparities between urban and rural areas in terms of ECE resources, the study underscores the importance of ensuring that all children, regardless of their geographic location, have access to quality early childhood education. This is essential for achieving the broader objectives of national development and social justice.

1.6 Scope of the Study

The study focuses on the availability and utilization of early childhood education resources in rural Nigerian communities. It will involve a case study approach, examining selected rural communities to provide an in-depth understanding of the specific challenges and opportunities related to ECE in these areas. The study will primarily consider resources such as physical infrastructure, educational materials, and human resources (e.g., teachers and caregivers) that are critical for the delivery of quality early childhood education.

1.7 Limitations of the Study

While this study provides valuable insights into the availability and utilization of ECE resources in rural Nigerian communities, it is not without limitations. One potential limitation is the geographic scope of the study, which may not capture the full diversity of rural communities across Nigeria. Additionally, the study relies on data collected from a limited number of communities, which may not be fully representative of the broader population.

Furthermore, the study may face challenges in accessing accurate and reliable data, particularly in remote areas where record-keeping and data management practices may be limited. Despite these limitations, the study aims to provide a comprehensive and balanced analysis of the issues related to early childhood education in rural Nigerian communities.

1.8 Definition of Terms

Early Childhood Education (ECE): The education of children typically from birth to eight years old, focusing on the development of cognitive, social, emotional, and physical skills.

Resources: Refers to the physical infrastructure, educational materials, and human resources available for early childhood education.

Rural Communities: Areas located outside urban centers, often characterized by lower population density, limited access to infrastructure, and fewer educational opportunities.

Utilization: The effective use of available resources in the delivery of early childhood education.

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