CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUD
According to Orjih, Commercial Banking in Nigeria dates back to the early colonial period. The decline in Banker system of trade and the rise in financial transaction of the colonial government required an institution in the form of commercial bank for safety and transmission of funds.
It is privately owned and established for the purpose of making profit for their owners.
According to the small scale Business act of 1953, a small-scale business firm is one which is independently owned and operated and not dominated in its field of operation. Small scale Business is owned, managed, controlled by one or two persons, in family influenced in decision making, has an un differentiated organizational structure, has relatively small share of the market and employers less than 50 people.
The commercial Bank performs certain duties to small scale Business to enable them carry their Business effectively. Some of their duties are accepting deposit, granting loan and overdraft facilities, agency services, providing station reports standing order, call credit facilities investment advise and soon. Through these role performed by the commercial Bank, it enables small scale business to plan their business properly, keep adequate records, maintain proper accountability, pursue planed expansion, utilize professional assistance, improve your business knowledge through apprenticeship programmers and formal education and so on.
1.2 STATEMENT OF PROBLEM AND THE OBJECTIVE OF THE STUDY
The small scale Business owned individual are faced by some problems, which are under capitalization, poor business accountability, poor record keeping, lack of business knowledge and experience, poor wrong location.
1.3 SIGNIFICANT OF THE STUDY
These research works is to be used for the purpose of learning this study is a dynamic one for the reason it cannot be said to have been completely treated in ones work like this. There are other scholars can use the work as a basic for further research work.
1.4 SCOPE AND LIMITATION OF THE STUDY
Although certain journals, textbook and magazine were used on the course of the study were in the role of commercial Bank in small scale Business due to the limitation the terms paper was carried out within the limited time available.
1.5 DEFINITION OF TERMS
COMMERCIAL BANK: It is a privately owned bank; it is established for the purpose of making profit for their owners and grant loan on short term basic to customer.
LOAN: It is classified as problem credit when they cannot be repaid to a financial facility granted by a bank, which intended to be applied for financing a specific purpose.
FUND: Can be described as increase in the liability or equity account or a decrease in the asset account.
FINANCE: Is the possession of funds when it is needed for investment.
CREDIT: Is a special form of account payable and it is the most popular source of short-term credit in small and medium scale business in developed and developing economics. It involves the purchase of goods and services and suspending payment to an agreed future data.
NOT THE TOPIC YOU ARE LOOKING FOR?
Once payment is made, kindly send us your project topic, email address and payment name to +234 810 144 4147
Once payment is confirmed, Project materials will be sent to your email
Due to the lock-down, the number of PoS transactions fell by more than 20% to 40.85 million in April, from 52.2 million at the end of March. According to a study published by the Nigeria Interbank Settlement System, the trend is reversing, with POS r...
Without a doubt, the global financial community is embracing the latest technological transformation from real currency to almost abstract currencies. Cryptocurrencies were born as a result of this surge.
Without a doubt, the global financial community is embracing the latest technological transformation from real currency to almost abstract currencies. Cryptocurrencies were born as a result of this surge.
The accessibility of POS aided individuals in performing cashless transactions and other financial activities. However, Nigeria's enforced lockdown restricted the activities of POS businesses, resulting in a shortage of withdrawal points and other ba...
In Nigeria, running a POS business is a legal way to earn money. It's more lucrative in areas where there are no deposits and ATMs aren't enough to meet the community's financial needs. It's also known as agent banking because it's an expansion to fi...
In comparison, Boko Haram, one of the continent's most dangerous terrorist groups, killed 78 civilians during the same time period. Fulani attacks on farmers are primarily practical rather than ideological; competition for suitable grazing land over ...
The widespread dissemination of the COVID-19 virus has thrown the world's nations, including Nigeria, into a health crisis. The implementation of lockdown measures was deemed the best solution for countering the virus's dissemination.
This study on the impact of Covid-19 on Banking sectors will in doubt be of great significance to the entire banking sectors as the study was carried out the unveil the trauma banks suffered as a result of this unforeseen outbreak of Covid-19.
The idea of this research work is to assess the factors affecting the adoption of pos terminals by business organizations.
This study will be relevant to the general public especially those with entrepreneurship potential. It will give potential entrepreneurs first hand information on the challenges they are likely to face in their quest of establishing a POS business an...
Message Us on WhatsApp »
