IMPACT OF CO-OPERATIVE SOCIETIES IN THE DEVELOPMENT OF NATIONAL ECONOMY (A CASE OF I.T.F, STAFF CO-OPERATIVE THRIEFT AND CREDIT SOCIETY LTD ENUGU
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09080008483
info@projectng.com

Impact Of Co-operative Societies In The Development Of National Economy (a Case Of I.t.f, Staff Co-operative Thrieft And Credit Society Ltd Enugu

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IMPACT OF CO-OPERATIVE SOCIETIES IN THE DEVELOPMENT OF NATIONAL ECONOMY (A CASE OF I.T.F, STAFF CO-OPERATIVE THRIEFT AND CREDIT SOCIETY LTD ENUGU

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

It is pertinent at this juncture to defined what co-operative societies is all about before delivering much into other analysis of it origin and contributions to the members owners in particular and to the development of an economy in general. Co-operative societies can be defined as an association of persons or small business men and woman alike who come together for the common purpose of improving their economic welfare. Each member is require to contribute to the common fund which in turn is used to established a business that will look after the economy welfare of all the members.

       The birth of co-operative is associated with people who experience some hardship in the scheme of things. This relative hard condition kindled the self help and self-reliant spinit in the people. Co-operative development therefore seems to be enhanced among people who felt need for co-operative among people ignited the formation of the first ever recorded co-operative societies which originated from England, among the working class societies within the 18th and 19th centuries, the condition of workers was very poor. To resolve their economic problems, the workers resonted to farming various types of co-operative societies that were directly beneficial to their members. The most successfully of the first co-operative societies was formed in 1844 at the Rochdale, England called the Rochdale society and it had twenty eight registered members from the impact and benefit engaged by the members various kinds of this organization started to emerge with varying names, but with the common objective of staff help and self-reliance. Among the co-operative, retail co-operative, thrift and credit societies to maintain but a few their contrived existence and contribution as their members a particular and economy in general call for mention in this circumstances.

1.2 STATEMENT OF THE PROBLEMS

The general low income per head of most people in rural areas of most countries of the world today is a pre-requisite for group action and effect for self-reliance among themselves. This is the first and most important reason that account for the inception of co-operative movement. Secondly the under-privilege or development nations appear not to give co-operative movement its pride of place in the economic setting their conception and attitude towards co-operative societies appear not to help in the growth and development of co-operative movement.

       Another striking factor that sniggered off this research work, is the fact that our people appear not to understand the impacts, of co-operative societies in national development. Moreso, it is the non –chalant attitude of most people in embracing the idea of co-operative societies as one of the variable instrument for the national development. In some developing countries, it is therefore on giving premise that this research work becomes necessarly in the first instance. Fund, is ignorance on the employers which results to payment.

1.3 OBJECTIVE OF THE STUDY

The impact of co-operative societies in national development cannot be over-emphasized. However, a lot of problems abound of which the research wonla aims to solve objectively. Industrial training fund is a service organization, as such it is difficult to quantify its achievement. The purpose of the study include.

1.  To find out the lasting solution to the low income per hend  associated with most developing countries though the understanding of co-operative movements.

2.  To examine the various of our people from their non-chalant attitude toward co-operative societies by unleashing the nations benefits, from this movement as it affects national development.

3.  To identify the usefulness as a reference point to the understanding of co-operative societies as an instrument for self help and self-reliance.

4.  To identify the problems associated with co-operative societies in national development.

1.4 RESEARCH QESTIONS

To guide this study, the research question were formulate.

Agree the existence of co-operative societies helps in solving the problems of low income per head with most developing countries.

Disagree the existence of co-operative societies does not helps in solving the problems of low income per head with most developing countries.

Agree the non-chalant attitude of some people affects national development.

Disagrees the non-chalant attitudes of some people does not affects national development.

Agree government has gone to curb problems associated with the non-chalant attitudes of some people affects national development as regards national development.

Disagree government has gone to curb problems associated with the non-chalant attitudes of some people affects national development as regards national development

Agree the usefulness of co-operative societies serves as a reference point for the self-help and self-reliance.

Disagree the usefulness of co-operative societies does not serves as a reference point for the self-help and self-reliance.

1.5 SIGNIFICANCE OF THE STUDY

A work of this nature is not without significance relevance to some people, group, nation and organizations alike. It is on this premise therefore that the researcher outline the following significance of the study.

(1)      The study will provide grounds for the rural dweller and the less privileged group seeking to improve their standard of living through self-help and self-reliance effort such as co-operative societies.

(2)      It is significance to any country in the quest to improve her economic development.

(3)      This research work will serve as a reference point to many itching to establish co-operative societies or embark on research towards improving co-operative movement in our society.

(4)      The society at large will benefit from nations activities or project carried out by most co-operative societies.

(5)      The study will assist in identifying various problems associated with co-operative societies towards national economy.

(6)      Government will find existence useful as co-operative societies encourage economic and national development.

(7)      At the end of this research work, many people in our society will be able to correct their errors and ignorant approach towards co-operative societies and its importance towards improving standard of living and other economic development in the country.

(8)      The organizing research and studies into training as support to other activities of I.T.F.

(9)      Industrial risk management and loss controls in some parts of the country.

(10)  Occupational health and safety workshop in the country example Enugu, Abuja.

(11)  Productivity and efficiency training workshop.

1.6 LIMITATION OF THE STUDY

During the research work, the research was able to encounter certain constraits as follows.

Time the study was conducted under the time limit of the researcher academic programme.

Finance the financial state of the researcher limited the number of respondent used for this study.

Materials furthermore, the library posed another limitation as textbooks, journals, Newpapers and articles on co-operative societies and national development were looked and hence they are the key variable for the study. Work schedule, the existence of the duties among the respondents posed another limitation as the researcher found it difficult to call all of them together on one occasion.

1.7 DEFINITION OF TERMS

The following terms used into this study should be taken to mean the following.

Co-operative societies

Co-operative societies can be defined as an association of persons or small business man and woman alike who come together for the common purpose of improving their economic welfare. Each members is required to contribute that will look after the economy welfare of all the members.

1.8 I.T.F

I.T.F. means industrial training fund, they help in self-reliance among members through encouraging thrift and credit.

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