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IMPACT OF
CREDIT MANAGEMENT ON THE OPERATION OF SMALL-SCALE ENTERPRISES IN NIGERIA
ABSTRACT
The study
delved into impact of credit management on the operation of selected small
scale enterprises in Nigeria. The study examines whether integration of the
world economic enhances product development and performance and whether the
advent of internet has effect on product innovation in the beverage industry.
The survey
research design was employed in this study and the questionnaire was the main
research instrument. A total of 30 respondents make up the sample size of the
study and chi-square was used as the statistical tool to analyze or in
analyzing the collected data.
The findings
of this study revealed that extension of credit to customers is an average for
imploring sales of small scale industries. Efficiency in the management of
small scale business lies on the way credit is been managed. Furthermore, small
scale business credit standard and credit analysis before extending credit to
customers.
TABLE OF
CONTENT
CHAPTER ONE
INTRODUCTION
1.0 Background of the Study
1.1 Historical Background of the Case Study
(Cadbury Nigeria Plc)
1.2 Statement of Problem
1.3 Objective of the Study
1.4 Research Question
1.5 Research Hypotheses
1.6 Significance of the Study
1.7 Scope of the Study
1.8 Limitation of the Study
1.9 Definition of Terms
1.10 Summary
of Subsequent Chapters
CHAPTER TWO
LITERATURE
REVIEW
2.0 Introduction
2.1 Concept of Small Scale Business.
2.2 Characteristics of Small Scale Enterprises
2.3 Roles and Importance of Small Scale
Business
2.4 Factors to Consider Before Starting a
Small Scale Business.
2.5 Over View of Governments Effort in the
Development of SMEs in Nigeria
2.6 Conceptual Framework Credit Management.
2.7 Administration of Credit
2.8 Credit Control
2.9 Theories of Comparative Management
CHAPTER
THREE
RESEARCH
METHODOLOGY
3.0 Introduction
3.1 Research Design
3.2 Characteristics of the Studies Population
3.3 Restatement of Research Questions
3.4 Restatement of Research Hypotheses
3.5 Research Instrument and Administration
3.6 Sample and Sampling Design
3.7 Methods of Data Analysis
3.8 Limitation of the Study
CHAPTER FOUR
DATA
ANALYSIS AND INTERPRETATION
4.0 Introduction
4.1 Analysis of Personal Data
4.2 Analysis of Variables
4.3 Test of Hypotheses
CHAPTER FIVE
SUMMARY OF
FINDINGS, CONCLUSION AND RECOMMENDATION
5.0 Introduction
5.1 Summary of Findings
5.2 Recommendations
5.3 Conclusions
Biography
Questionnaire
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND TO THE STUDY
Private
Sector Development as suitable alternative for promoting sustainable and
balanced growth in African has attracted considerable attention. Many
government and development organizations have focused on the promotion of
medium-scale enterprise (SMEs) as a way of encouraging broaden participation in
the private sector. The promotion of SMES and especially of those in the
informal sector is viewed as a variable approach to sustainable development
because it suits the resources in Africa.
The
contemporary business environment faced with a number of challenges
particularly the globalization process is on course is attempt to standardize
operation. One the strategies used in coping with globalization is credit
management. Credit management refers to those decision variables that influence
the amount of trade credit that is, investment in recurable which a business
firm may undertake to any given time. It plays a vital role in promoting small
scale industries in Nigeria.
The
promotion of small scale industrial business is well recognized and much better
strategies of industries development in developed and developing countries and
its ability to enhance entrepreneurial and management skills.
In (1973)
Nigeria Small Scale Industries Association defines small scale business as
those having investment like capital, land, building and equipment up to 60,000
and employing no more-than fifty people.
Some scale
industries a business could be referring to the sector of economy that is
mostly concern with the distribution and marketing both industrial and domestic
products. According to Ajonbadi (2002) saying Small Scale Industry is an
industry which the total capital employed is over 1.5 but not more than 50
million including working capital of it 100 workers.
The research
work is to analyze critically the impact analysis of credit management
strategies to sector of trade, the problem in managing credit problems and with
the aim of finding a lasting solution to the problems and expand the activities
of small scale business in the economy in order to arose the attraction both
government and individual.
1.1 STATEMENT OF PROBLEMS
Small medium
businesses have limitations and problems that account for their failures. All
business organization is irrespective of their objectives have philosophy of
growth, survival and adaptiveness. (LAWAL, 1993).
The
important role which small scale enterprise play in the economics of nations,
from the first to the last sage in the developmental countries makes them very
relevant in many aspects of economic policies especially those of industrial
development. However, the extent to which these enterprises contribute to
industrial development depends on the level of growth and development of these
enterprises.
In Nigeria,
just as in most other countries, small scale enterprise are more in number than
large scale enterprises. This is not surprising given the nation's how level of
development in both human resources and capital formation.
Small Scale
Firms like medium firms, however create bulk of the employment provided in the
promotion of entrepreneurship and utilization of indigenous technology as well
as ensuring even and more appropriate location of industries.
1.2 OBJECTIVES OF THE STUDY
The general
objective of the study is to examine the impact of credit management on the
operation of selected small scale enterprises in Nigeria.
Evidence has
shown that small scale firms usually carryout "NICHES" and produces
highly specialized service of product in a geographical area and do not
perceive any clear competition.
1. The main purpose of this research is to
understand the types of credit, standard of credit, administration of credit
and credit terms.
2. Then review the problems of managing
credit of small scale business in Nigeria, with the aim of finding lasting
solution to them and possibly bring up innovational and ideas general towards
expansion in the growth and development of small scale enterprises (SME) in the
state.
3. To intensively review the role of the
government over the year in the small scale industry enterprises so as to draw
attention of the government to the development of the sector.
1.3 RESEARCH QUESTIONS
i) Do survival of small scale business
depend on accessibility of credit facility?
ii) Does institutional incentives given by
government agencies affect the effort of small scale business in Nigeria?
iii) Is there significant relationship
between credit management and small scale enterprises performance?
iv) To what extent do credit management
influence small scale enterprises productivity?
v) Is there any significant relationship
between credit management and small scale enterprise profitability?
vi) Does credit management reduce fraudulent act
in SSEs?
vii) Does credit management reduce materials
wastage in SSEs?
1.4 RESEARCH HYPOTHESES
HO - There is no significant relationship
between Credit management and
Small Scale
Business in Lagos State.
H1 - There is significant relationship
between Credit management Small
Scale
Business in Lagos State.
HO - Credit management strategy of SMEs
do not have significant effects
on their
profitability.
H1 - Credit management strategies of
small scale enterprises have a
significant
effect on their profitability.
1.5 SIGNIFICANCE OF THE STUDY
The
important of small and medium enterprises in the economy. AT the end of the
study, the researcher expects that the finding will serve as a point of
reference to the managing of business organization student, professional,
student of economist and general public. This study will reveal the relevant of
credit management.
This study
also contributes to knowledge in terms of provisions of additional information
in the form of ideas, opinions and views from the field (industry operators) to
develop and move the sector forward by way of checking the relationship that
exists between the financial institution and SMEs in Nigeria.
1.6 SCOPE AND LIMITATION OF THE STUDY
The study
covers credit management SMEs in Nigeria, particularly in Lagos State and does
not extend to other sectors. This study is restricted to selected small scale
enterprises in Ikeja local government of Lagos State. The study covers a
representative numbers of the generality of SMEs. No special consideration is
given to sex, age and nationality in collecting data from the respondents.
The level of
accuracy in this study is proportional to the availability of information that
the respondents are willing to give. Also, there is this uncertainty that
information given is without bias. Also, undertaking a research study is a
serious business. It requires a commitment of time, money and energy, both
intellectual and physical. Hence, balancing the study with academics and going
to work is a Herculean task.
1.7 Definitions of Terms
Credit
Management: decision variables that influence the amount of trade credit that
is, investment in recurable which a business firm may undertake to any given
time.
Banks: This
is a financial institution that aid in collection of deposit and granting loans
and other auxiliary service to the public.
Banking:Is a
service delivery business in which information is pivotal, whether in the
honoring of cheques or other withdrawals.
Consolidations:This
is another term used in place of merger and acquisition. Thus, it is the
combination of two or more corporation.
Enterprises:This
is any commercial undertaking that is either publicity of privately owned or
controlled. The word is used interchangeably with organisation in this study.
Performance:
The degree of efficiency and effectiveness with which the organisation
objectives are achieved.
Small Scale
Enterprises:These are enterprises in which power consumptions, number of
employees, quantum of raw materials, output like are small in size.
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