USEFULNESS OF FEASIBILITY STUDIES IN THE COURSE OF CO OPERATIVE FORMATION AND INVESTMENT DRIVE, AMONG REGISTERED CO OPERATIVE IN ENUGU SOUTH, ENUGU NORTH, ENUGU EAST AND ENUGU CENTRAL LOCAL GOVERNMENT AREAS)
TABLE OF CONTENT
CHAPTER ONE
Introduction
References
CHAPTER TWO
Review of related literature
References
Chapter three
Research design and methodology
References
CHAPTER FOUR
Presentation analysis and interpretation of data
Reference
CHAPTER FIVE
Summary of findings recommendation and conclusion
Bibliography
RESEARCHER PROPOSAL
FEASIBILITY STUDY AND COOPERATIVE FORMATION/ INVESTMENT DRIVE.
( A study of the usefulness of feasibility studies in the course of co operative formation and investment drive among registered co operative in enugu East, Enugu South, Enugu North and Enugu central)
INTRODUCTION
Background of the study
For over a decade now, the Nigeria economy has been in dire strait on doldrums. They continued economy crunch has highlighted the need for feasibility study before embarking any project. The aim of this study is to let cooperation and general public know the important of a feasibility report, in any business venture most especially cooperative business venture.
The importance of a well prepared feasibility study in the cause cooperative information and investment drive can not be over emphasized. A well prepared feasibility study can be used to obtained loan from banks and thus attract other investments. Cooperative projects backed by good feasibility studies are difficult to wind up easily. The drive for investment can only take place when there is sufficient money or resources. For any project there are the alternative technology, production equipment6, building and other investments. As each decision is concluded the next issue is the problem of selecting the most viable of the various alternatives. It is against this background that the researcher wants to embark upon the research topic titled “feasibility studied and co operative formation investment drive. (A study of the usefulness of feasibility studies in the course of co operative formation and investment drive).
Statement of problem
The importance of feasibility studies in the course of co operative formation and investment drive cannot be overemphasized or ignored. The failure of some co operative business ventures deserve to be questioned: were feasibility studies prepared, how good the feasibility studies were were the provision well implemented, the nature of the staff qualify etc.
Significance of the study
This study will highlight on the relevance of feasibility studies and co operative formation investment drive.
This will be of immense benefit to those wanting to engage in new ventures.
It will also help in minimizing business failure among co operative, since people will appreciate the need to embark on feasibility studies in the course of co operative formation / investment drive.
Scope of the study
Due to the fact the researcher is a student and do not have enough teim and money to research on the whole topic, the researcher selected a few co operative society from which references can be made that is enugu east, Enugu south, enugu north and Enugu central
Limitation of the study
The availability of correct and up to date information is not easy even the available ones still encounter wholly unnecessary bottlenecks due to our socio cultural milieu, bureaucracy and subterranean motive.
The researcher also encountered financial and time constraints, exorbitant, unreasonable, too high or great transportation cost, high level of risk of the data base constituted limitation themselves. This contributed to the researcher small sample size.
CHAPTER TWO
Past project particles journals on the related topics were researched. Also a review of books, newspaper magazines and periodicals were carried out.
CHAPTER THREE
Methodology
This is chapter shows the methods and procedures used for collection and analysis
Population of the study
The target population covered by this study included 5302 randomly. Selected persons that are members of the cooperative society in Enugu south, Enugu east, Enugu north and Enugu central. The computation of sample size was based on Yarmane model. (1964:240) of which a sample size of 193 was selected.
Research material
The research material used is the questionnaire design / collection and the interview methods.
Research procedure
If I am asked to carryout this study, I will give a detailed information procedure or process which I used in carrying out the research.
Treatment of data
The simple percentage analysis and test of hypothesis were used in treating the data.
CHAPTER ONE
INTRODUCTION
For over a decade now, the Nigerian economy has been in dire strait or doldrums. The continued economic crunch has highlighted the need for feasibility studies before embarking on any project.
Feasibility studies involved closer examination of cost and benefit of a project with a view to ascertain whether it is feasible, viable and profitable to undertake such a venture.
The aim of this study is to let co operator and the general public know the importance of a feasibility report, in any business venture most especially cooperative business venture. The drive for investment can only take place when there is sufficient money or resources. The importance of a well prepared feasibility studies in the course of cooperative formation and investment drive cannot be overemphasized.
A well prepared feasibility studies can be used to obtain loan form banks and thus attract other investment, co operative project backed by good feasibility studies are difficult to wind up easily planning business is an absolute must says Banmbank (1992: 31). Having the right goods at the right place at the right time and prices is the accepted objective.
He also believes that control is indispensable. The whole idea of a feasibility study or report compliments and facilitates these two all important functions in the business planning and control. Thus a feasibility study shows whether a propose business opportunity will succeed or rail after a careful consideration of alternative against the firms objective. Different view energy why people from or join a cooperative society or cooperative. Cooperative afford for socio – economically disadvantaged people an alternative way of doing business. It follows naturally that the intention or motive for establishing a sole trade, partnership or joint stock company are similar but not same for establishing a cooperative society.
According to Omuoha (1999:28) profit motive in the motivating factor for private entrepreneurs while service to member in the motivating force for cooperative the necessity for making a choice between investment alternative arises frequently in business decision (Ude 1990:64). Accordingly, it is necessary to appraise your project. To determine whether it is worth going into the business or not. For any project, these are alternative technologies, production equipment, building and other investment. As each decision is concluded the next issue is the problem of selecting the most viable of the various alternatives.
1.2 STATEMENT OF THE PROBLEM
The spate of business failure in Enugu state is on the increase. According to Louck (1989:5) “to start a business is very easy but to stay in business is very difficult. Most businesses have failed due to lack of proper planning foresight by their promoters. This is most in the case of small scale business which are characterized by owner and personnel. The importance of feasibility studies in the course of cooperative formation and investment drive cannot be overemphasized or ignored. The failure of some co operative business venture deserve to be questioned: were feasibility studies prepared, how good were the feasibility studies, were the provisions well implemented, the nature of the staff quality etc.
Their day to day operation usually are in the hands of the owners who may not posses the requisite know how.
It is against this background that the wants to embark upon the research topic titled “feasibility studies and co operative formation / investment drive. (A study of the usefulness of feasibility studies in the course of co operative formation and investment drive)
1.3 OBJECTIVE OF THE STUDY
The major objective of this study is to x – ray the usefulness of feasibility studies in the course of co operative formation and investment drive. The specific objective includes:
This question inspired the research to carry out the study. They must be correctly answered in the course of this work. They are as follows:
RESEACH HYPOTHESIS
A statistical hypothesis is a statement or assumption about an unknown population parameter Nwabuokei (1986:241).
This study will highlight on the relevance of feasibility studies and cooperative formation/ investment drives.
This will be immense benefit to these wanting to engage in new venture.
It will also helping minimizing business failure among cooperatives, since people will appreciate the need to embark on feasibility studies in the course of cooperative formation/ investment drive.
Again apart from contributing to the existing literature on this topic, it will be of immense benefit to those who might like to undertake further studies on this topic or related issues.
It is also hope that the adoption and implementation of the finding and recommendations of this study will in no doubt help significantly in boosting our economy through business success engendered by the use of feasibility studies among cooperatives.
1.6 SCOPE AND LIMITATIONS OF THE STUDY
LIMITATIONS: The study centers on feasibility study and cooperative formation/ investment Drive. Mainly the importance of feasibility report, motives for forming or joining a cooperative society/ investment Drive and feasibility studies.
Sampled members of cooperative societies, management, and officials responsible for government departments charged with cooperative affairs were administered with questions.
The researcher in the course of this work seriously encountered financial and time constraints. Exorbitant, unreasonable, high and great transportation cost, apathy, limited cooperative books, journals, and other publications. Higher level of risk of traveling by road and the geographical spread of the data base constituted limitations in themselves.
1.7 DEFINITION OF TERM
Feasibility Study
A closer examination of the costs and benefit of a project to ascertain whether it is feasible, viable and profitable to undertake as a venture.
Feasibility Report
A written documented plan or a blueprint of operation of a business project.
Investment
Commitment of fund in the purchase of assets intended to yield future returns.
Project
Plan to invest money in the purchase of assets or a combination of assets intended for installation to yield return in the business concern.
Cooperative Formation
This has to do with ways by which cooperative society can be formed. That is step involved in forming a viable cooperative society.
Cooperative Society
It is association of persons who have voluntary joined together to achieve a common end through the formation of a democratically contributed enterprise, making equitable contribution of the capital required and accepting a fair share of the risk and benefit of the undertaking in which members actively participate.
REFERENCES
Baumback C.M (1992) Basic Small Business Management. New Jersey, Prentice Hall Inco.
Loucks, K (1988) Training Entrepreneurs for Small Business Creation; lessons from experience ( I.L.O publication management development series, No. 2c p.588:5)
Osuala F.C (1993) Introduction to Research Methodology Onitsha Africa fep publishers ltd, p. 2828.
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