SOURCE OF FINANCE FOR MEDIUM SCALE INDUSTRY IN NIGERIA
The research work revealed that the product has been able to satisfy the customer to a very high level It was also discovered that customer partronse product which involves fund transfer and then the most prominent reason for their patronael is based on the convenience the introduction of the production has improved the profitability of the finance. Finance is to meet the ever grow needs of customer.
In research work close four of the production, measured the extend to which they have been able to satisfy the customers.
TABLE OF CONTENT
TABLE OF CONTENT
1.2 STATEMENT OF THE PROBLEM
1.3 AIM OF STUDY
1.4 SIGNIFICANT OF THE STUDY
1.5 RESEARCH HYPOTHESIS
1.6 SCOPE AND LIMITATION OF THE STUDY
1.7 DEFINITION OF TERM
1.2 REVIEW OF RELATED STUDY
3.1 RESEARCH DESIGN AND METHODOLOGY
3.2 SOURCE OF DATA
3.3 LOCATION OF DATA
4.1 SUMMARY AND FINDINGS
4.2 TEST OF HYPOTHESIS
5.1 RECOMMENDATION AND CONCLUSION
In initiating and setting up any business concern, the first and the most important issue that quickly comes to mind is finance (money).
This is because the availability of adequate fund will enable the investor to employ the necessary input labour, equipment and machinery power, utilities, suppliers and even management. However, it is the pre-occupation of this project to trace the grass0root of what is finance in a bid to excavate its meaning as it concerns the scope of this work. Therefore, without negating the points already stated above, finance can be viewed as those basic human functions of production and marketing that involves financial decision-making.
In this paper therefore, it is partiment to discuss briefly the issue of industrial finance in the past in an attempt to identify the origin of Nigeria’s present structural problem therefore, subsequent sections of this paper will shift to the pattern of financing medium scale and large scale companies excluding those engaged in banking finance or investment
1.2 STATEMENT OF PROBLEM
Pre-independence Nigerian entrepreneurs did no have much financing problems because, at that time, labour intensive agricultural activities dominated the economy. The unfortunate situation however, directed Nigerian economy into activities that offered little or no opportunity for economy enlargement
So with independence and the realization that the perpetuation of such economic relationship would hardly sustain political independence in the context of modern power relationship, the manufacturing industries were recognized as a crucial factor.
In this direction, the manufacturing as well as the agricultural sub sectors become formidable industries in the private sector based on this an d the government apparent belief that medium scale enterprises are essential ingredients of a competitive economy, the need for some modification become evidence. Ever government’s efforts and policies are being directed towards creating favorable investment environment. As a result indigenisation was introduced to enable Nigerians control the commodity heights of the economy. This was beloved would accord the preferred sector the required attention. But perhaps, the realization that industrialization is a predicate factors in economic emancipation directed so much attention to the sector that is generated unprecedented responses from potential enterprises that the problem. A inadequate capital formation become gloringly obvious within Nigerian economy. For the for-going, circumstance and knowledge have shown that financing practices of industries in Nigeria are limited.
However, in carrying on their business, Nigerian companies are continually involved in financial market.
They build up liquid assets drown on bank loans, they give credit from suppliers and from time to time they enter the capital market to raise new equity a long-term loan capital. But in choosing among financial instrument, they access to the capital market seems restricted.
1.3 AIM OF STUDY
The aim of this research work are as follows:
(1) To examine the means by which companies are financed in Nigeria
(2) To discuss the limitation when companies face while making use of the capital market
(3) To evaluate the efforts of those limitations in the capital market on the capital structure of a company.
This research will be based mainly on a particular source of data, namely the published accounts of Aluminum manufacturing company of Nigeria limited for a three years track period 1980-1982 though the study may seem out a data, it is the writer view that it will be of considerable historical interest.
Moreover, though the writer readily concedes that certain part of the work relates specifically to the period 1980-1982, many other parts are likely to be valid for some year to come.