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FINANCING
SMALL SCALE INDUSTRY
CHAPTER ONE
1.1 INTRODUCTION
Oredo is one of the local
government area in Edo state. Its headquarter is Benin city which incidentally
is the capital and administrative centre of Edo state. Oredo is situated
between latitude 60 and 60, 120N and longitude 50 ,45 E. The traditional
inheritance of Edo state Government Areas are Binis who are the Edo speaking
people. However, English language is used for day to day commercial activities
in the area.
Economic activities of the people
in Benin city are many and varial ,the traditional occupation of the people are
farming, sculpture, cloth weaving, poultry, brass-casting, blacksmith, menting,
traditional e.t.c
Today, however industries and large
commercial concerns are fast springing up, Benin has a good number of
industries. It has the infrastructure and the market potentialities to
encourage industries which are market oriented.
According to peter M.A, which says
in the basic business management 1972 that states among Benin many Economic
activities are saw-millers, rubber processing, manufacture of confectioneries,
making of soft drinks, breweries of lager beer and poultry keeping which is the
main focus of the study.
The elites and educated ones in
Oredo local government area are mainly civil and public servants employed in
government offices, marcentle houses and in banks in Benin city are mainly
commercial and others, they undertake all normal banking services and other
miscellaneous services. The dormant economic activities of the people as
earlier mentioned can be from through personal selling, borrowing from friends,
relations, Banks and other financial institution as well as ploughing back
profit.
Ensminger M.E state that the term
poultry covers rather a wide variety of birds consisting of several spaces. It
includes chicken, duck, geese, guneia fowl e.t.c.
In most villages in Oredo local
government area, a large number of domestic fowls are found roaring about. This
is the local way of rearing birds under the free range condition. A farmer may
own one or more hen or cocks. Virtually no care is taken of the birds can pick
up for themselves by hatching there. As a result, much finance was not needed
because production was on a substance basis.
In some places like Benin city, Sapele and
Uromi to mention just a few, the poultry industry has been seen as a
specialized industries by the people. Poultry industries has not attained the
maximum level of output because of lack of co-ordinated policy at both the
national and state level with regard to financing technological and managerial
assistance not withstanding poultry farming yields the quickest return of all
known living stock farming. It can also be established with a minimum cost.
This industry provide several employment opportunity both in the private and
public sector of the economy. About 30% of the Nigeria labour force has been
attributed to small scale industries ,so emphasis is now on commercial
production and effective management of this lucrative business for the
government to help finance this important industries.
1.2
STATEMENT OF THE PROBLEM
The system of financing poultry
industries has numerous problems which have led to poor performance of small
scale poultry industries in Oredo local government areas.
1.3 RESEARCH QUESTION
1. Does financial constrain makes it
difficult for these poultry farmers innovate or
carry out research work. acquire new plants and machines as well as capital for
improvement
2.
Does lack of improved method of poultry management affect the production
level.
3. It is true that government and other
organizations are fully
involved in poultry management in poultry industries.
4.
Despite the quick rate of turnover in poultry business, are there still enough
competent farmers.
5. Does a survey carried out in Benin city shows that these farms were related, neglected in
terms of credit allocation?
In view of the above
stated, problem comprehensive study has been carried
out on the causes of these problems and with a view of
finding solution or remedies.
1.4 OBJECTIVES OF STUDY
The main objectives of these study is
to examine the various source of finance available to small scale poultry
industries in Oredo local government area. A complimentary objectives is to
identify the problems encountered by poultry farmers in obtaining loans in
other to enhance their contributors to the economic development of this nation
in general and Edo state in particular.
HYPOTHESIS
The hypothesis of this study is
that the poor performance in the poultry industries is depended on the
following.
i There is no significant difference
between poor finance and lack of
skilled management in a small scale poultry industries.
ii There is no significant differences
between poor farmers performance
and good capital utilization rate
1.7` METHODOLOGY
Data’s for this study will be
obtained mainly by relying on available published data, such as the use of
libral research working through past project, journals magazines and the
natural duties.
To obtain primary data, I have to
pay a visit to the poultry farmers, ministry of financial institutions were
also visited in addition, interviews were conducted orally questionnaires were
used.
1.8 THE NEED FOR STUDY
Besides adequate man power, need
finance to finance another major contributed to the growth of any industry one
will readily find out that even associated with the growth of industries centre
on finance hence the research of its nature (source and problems of financing
small scale poultry industries.
This study can be recommended to
the state federal government and financial houses for a deep and wider study.
1.9 DEFINATION OF MAJOR CONCEPTS AND TERMS
1. POULTRY: Consist monthly of local
reared under free range conclusion.
It is the different categories of birds, duck, chicken e.t.c.
2 POULTRY INDUSTRY: Is a farm yard
where birds are reared for the
roduction of eggs, and where feeds are purchased for the birds.
3. DOMESTICATED: Rearing of birds in the
poultry farm.
4. FINANCE: It is concerned with the
raising and management of funds y
big firms.
5. SHORT TERM CREDIT: This is a loan that
is suppose to be paid back later or a
short period of time.
6. LONG TERM CREDIT: Repayment of loans
made over several years profit.
7. CREDIT: Credit is the borrowing of
money by the farmers from credit
institution in other to increase production.
8. INPUTS: These resources which are used
in production process.
9. OUTPUTS: The total item produce such
as eggs on birds at a given
period of time.
10. FINANCIAL HOUSE: These are government
private institution that assists
investors financially in carrying out their business effectively.
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