CHAPTER ONE
1.1 Background To The Study
Small scale businesses are those businesses which are independently owned and operated requiring limited capital with few employee and non-sophisticated technology and which is not dominant in its field of operation. Small businesses constitute those sole proprietorships, privately owned corporations, partnerships with fewer employees and less annual revenue than a regular-sized business or corporation. Types of small business include those engaged in trade and commercial activities, services, and small scale manufacturing .Examples include service or retail operations such as delicatessens, hairdressers or convenience stores, small grocery stores, bakeries tradespeople (e.g., carpenters, electricians), very small-scale manufacturing, and Internet-related businesses. Small business can be started with very minimal capital and without any formality .many small business are operated as family business and can be combined with regular employment. The research therefore seek to investigate the Management and operation on small scale business (A case study of Textile unit
1.2 Statement of the Problem
The management and operations of small business is confronted with some challenges which constitute the limitations hindering the growth of small business in Nigeria. Small scale businesses are those businesses which are independently owned and operated requiring limited capital with few employee and non-sophisticated technology and which is not dominant in its field of operation. Small businesses constitute those sole proprietorships, privately owned corporations, partnerships with fewer employees and less annual revenue than a regular-sized business or corporation. Types of small business include those engaged in trade and commercial activities, services, and small scale manufacturing .Examples include service or retail operations such as delicatessens, hairdressers or convenience stores, small grocery stores, bakeries tradespeople (e.g., carpenters, electricians), very small-scale manufacturing, and Internet-related businesses. Small business can be started with very minimal capital and without any formality .many small business are operated as family business and can be combined with regular employment. Some of that problem includes lack of huge capital to expand or take advantage of business opportunities .Also the lack of managerial skill also affects the smooth and successful operation of small businesses. Lack of planning skill often leads many small businesses into failure. Poor decision making and improper accounting also constitute the problem confronted by Small businesses among other things. Consequently the problem confronting the research is to proffer an appraisal of the Management and operation of small scale business (A case study of Textile unit
1.2 Objectives of the Study
To determine the nature of small scale business
To determine the Management and operation of small scale business (A case study of Textile unit
Small business can be started with very minimal capital and without any formality .many small business are operated as family business and can be combined with regular employment.
1.3 Research Questions
What is small scale business
What is the level of impact of the management and operation of small scale business?
1.4 Significance of the Study
The study shall appraise the nature , management and operation of small scale business which shall serve as a vital source of information to investors
1.5 Research Hypothesis
Ho The level of impact of the Management and operation of Textile unit small business is low
HI The level of impact of the Management and operation of Textile unit small business is high
1.6 Scope of the Study
The study focuses on the appraisal of Management and operation of small scale business with a case study Textile unit
1.7 Limitations of the Study
The study was confronted by some constraints including logistics and geographical factors.
1.8 Definition of Terms
SMALL BUSINESS DEFINED
Small scale businesses are those businesses which are independently owned and operated requiring limited capital with few employee and non sophisticated technology and which is not dominant in its field of operation.Small businesses constitute those sole proprietorships, privately owned corporations, partnerships with fewer employees and less annual revenue than a regular-sized business or corporation.
FRANCHISE BUSINESS
Franchising is a way for small business owners to benefit from the economies of scale of the big corporation (franchiser). McDonald's and Subway are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable
Retailers' cooperative[edit]
A retailers' cooperative is a type of cooperative which employs economies of scale on behalf of its retailer members. Retailers' cooperatives use their purchasing power to acquire discounts from manufacturers and often share marketing expenses. It is common for locally owned grocery stores, hardware stores, and pharmacies to participate in retailers' cooperatives. Ace Hardware, True Value, and NAPA are examples of a retailers' cooperative.
