ABSTRACT
This project is
aimed at identifying the problem of partnership business in Nigerian and how to
solve some of the problem. This is an attempt to present the frame work which
will help various group of persons in partnership business and others desiring
to have clear understanding of some of the problem they will face in the
business especially those that want to jump into it without understanding the
terms of the business neither having any from of agreement. Worthy to mention
is the function which constitute a lot of problem , lack of good planning and
good management techniques which can work against partnership business. In terms
of organization, this work is divided into five chapter which as following;
Chapter one: it gives the
introductory analysis including the background of the study and the statement
of the problem.
Chapter two: this deals with the subject matter under the review with
reference to books of possible author and journals, magazines of different
opinion.
Chapter
discussed the method of the research, the research embarked upon and the
various instrument used to carry out the work.
Chapter four:
this form the core of the research, data collected were presented, analyzed and
interpreted and the hypothesis tested, summary of the finding conclusion and
the recommendation. A list of biography and appendix are presented at the end
of this study for further classification and information on the topic matter.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content
CHAPTER ONE:
1.1 Introduction
1.2 Statement
of the problem
1.3 Objective
of study
1.4 Significance
of study
1.5 Statement
of the hypothesis
1.6 Scope
of the study
1.7 Scope
of the study
1.8 Definitions
of terms
CHAPTER TWO:
2.1 Review
of the related literature
2.2 General natures for the partnership business
2.3 Historical view of partnership business
2.4 Definition of partnership
2.5 Type of partnership
2.6 Kinds of partnership
2.7 Special characteristics of partnership business
2.8 Formations and operation of partnership
2.9 Powers and liability of partners
2.10 Advantaged and disadvantage of partnership
2.11 Limitation to the partnership liability
2.12 Dissolution and winding up of partnership
2.13 Conclusion
CHAPTER THREE
3.1 Research design and methodology
3.2 Source of data
3.3 Primary
3.4 Secondary data
3.5 Sample used
3.6 Method of investigation
CHAPTER FOUR
4.1 Data analysis and interpretation
4.2 Data presentation and analysis
4.3 Test of hypothesis
CHAPTER FIVE
SUMMARY, FINDINGS, CONCLUSION AND
RECOMMENDATION
5.1 Summary of the findings
5.2 Conclusion
5.3 Recommendation
BIBLIOGRAPHY
APPENDIX / QUESTIONNAIRE
CHAPTER ONE
1.1 INTRODUCTION
Long
ago, many Nigerian have engaged them in one or tow business entity to promote
the economic growth and to earn a living. Unfortunately
it have been observed from the past analysis and experience that most of them
are not living up to the expectation. In view of this it is important to carry
out a research analysis on problem and prospect of business to know or uncover
the reason behind their business. It is a pity that immediately any thing
business is mention, the only thing that comes to the mind of a typical
Nigerian is buying and selling of goods but business if broader than that.
Business means any lawful activity one engages on to satisfy peoples wants and
needs to earn a living. For the purpose of this research, I want to narrow out
minds to business as any profit directed economy or commercial activities that
provides goods and services necessary to a nation standard of living.
Business ownership can be classified
into two basically:
(i)
Public
enterprise and
(ii)
Private
enterprise
The private comprise of sale
proprietorship, cooperative society and partnership etc.
In
this research work, we are going to concentrate mainly on issue that concerns the
partnership business.
According
to Boron Donan (1976) partnership can be defined as a business relationship
between two or more persons who jointly own and manage a business. The maximum
number is usually 20 persons. The following problem lead to the formation of a
sole proprietorship and others
-
Delay
in the decision making process
-
Crisis
of confidence
-
Chained
activity all new members to the old ones etc.
1.2 STATEMENT OF
PROBLEM
A
large proportion of the business entities in this country are face with similar
problems. This problem hinders partnership business and thereby causing their
contribution to the nation economic development limited. Some of this problem
is;
1. Poor source if fund
2. Poor feasibility study
3. Absence of rules and regulation
4. Inability to differentiate between
personal and business affair
5. Negligence on the part of some
partners
6. Wrong decision taking without
considering the necessary factor that can affect it
7. Lack of competitive awareness
8. Lack for assessment on the strength
and weakens of a business
PROBLEM OF
PARTNERSHIP BUSINESS
1.poor sources of fund: the major source of fund for the
partnership business is from their little savings and gift from friend which is
not enough to start a capital outlay of a standard business and hence the
business fails within a short period of time.
2. Poor feasibility study: not business that can survive
without overcastting and knowing the future of that business that is how it can
survived and whether it is gainful
3. Lack of lay down rules: most partnership business do not
have a laydown rule as a guide to the business and ownership and most of the
time, the terms of agreement which will lead to quarrying and winding up.
4. Inability to differentiate between
business and personal affair. This happen personally where the partners take up the business property
as their personal property
5. Negligence on the part of some
partners: most of their
workers because of the numerous engagements easily show a non challant attitude
toward define responsibilities.
6. Wrong decision taken: this has made many investors to wind
up thanking government decision are trials to every other decision.
7. Lack of competitive awareness: many partners in Nigerian don’t take
the reactions of the competitors into consideration, like issue of pries tags
special discount etc.
8. Personal strength and weakness in
business: many of the
business do assess their strength and weakness in business, hence they
experience failure.
Summarily, many business do not have
adequate training, as a result, the business folds up as a man’s business. Lac
of the tehnologioal kow how also causes their failure. They likewise ignore the
accounting procedure of handling business, having poor accounting records.
In this study the
researcher intends to deal with the following problems:
1. Common problem facing partnership
business in the area of planning, finance and management
2. The cause of this problem
3. How to solve the problem
4. The future prospects of partnership
business in Nigeria
1.3 PURPOSE OF THE
STUDY
In the work the researcher intends to
find out or investigate the following things in view of the problem listed
above
1. Whether partnership business carry
out feasibility study or not before embarking on any business
2. Whether most for the partnership
business use deeds
3. Whether they keep proper accounting
records
4. If the partnership business on their
own plan their work
5. Whether there is any effect of poor
capital base on the partnership management
6. Whether the mismanagement of fund
affect the management of partnership business.
The researcher in his cause of
writing have tried to study and understand the problem and how they have
frustrated the effort of some partnership business owners and some suggestions
to elicit them and some recommendation and how to handle some of other problem
1.4 SIGNIFICANCES OF
THE STUDY
In
this work, the researcher intends to go into details and find out the problem
facing partnership business in Nigeria. The researcher is interested in
identifying the major problem that hinders from a worthy growth in the
business. There are chosen areas of focus specified in the objective of the
study.
From the various analyses, there is a
clear indication that many for the partnership business set up in Nigerian are
not living up to expectation. It is hoped that a clear analysis of this problem
and prospects of partnership will uncover the causes of poor performance and
suggestion that could be relevant help to solve some problem confronting them
1.5 STATEMENT OF
HYPOTHESIS
Hypothesis is research answers to
problem, which are in essence subjected to some test. From this assertion, it
is necessary to state out some of the hypothesis
(a)
Using
the null hypothesis
Hi: for the negative
Ho: for the positive
Hi: inability of the
some partnership business to differentiate their personal affair and business
affair is a problem to partnership business in Nigerian.
Ho: inability of the some partnership
business to differentiate their personal affair and business affair is not a
problem to partnership business in Nigerian.
Hi: Esco & Co has been experiencing
problem in quick decision taking
Ho: Esco & Co has not been
experiencing problem in quick decision taking
Hi: partnership business is been
neglected in today’s business activity
Ho: partnership business is not been
neglected in today’s business activities.
Hi: there is a feasibility study before
embarking on any partnership business
Ho: there is no
feasibility study before embarking on any partnership business.
1.6 SCOPE
OF THE STUDY
The topic of this research is on partnership business. It
is assumed that it cannot be applied to the larger firm. It focus is on the
problem and identification on why and how the listed factors have hindered the
growth of partnership business in Nigeria. The researcher will try to cover all
aspect of partnership with middle literature review and the case study, which
is the major point of reference.
1.7 LIMITATION
OF THE STUDY
The researcher was restricted from the collection of vital
information due to the tie factor in combining this academic work with the
researchers study. More so poor financial base to get all information needed
for the study and lack of more cooperation on the side of my case study.
Limitation
of time: the time
schedule for the research work was the time the researcher was suppose to be
reading and making prep aeration for his examination
Financial
constraint: the
researcher could not meet up with the financial obligation as a student,
because of this; the work is limited to some areas.
Lack
of relevant data: due to
instability in the Nigerian government, most for the workers were on strike as
of the time there office were visited. Base on the inadequate finance, such
place were not visited again
Attitude of
interviewees: many of them have this problem of non-challant attitude, which
made them not to cooperate.
1.8 DEFINITION
OF TERMS
1. Partnership business: a business
carried out by two or ore persons who jointly own it and mange it together.
2. Significances: important of the work
been done at a particular time to the users
3. Hypothesis: suggestion put forward at
a starting point for reasoning or explanation
4. Constraint: hindrance or limitation
to the progress of the work.
5. Relevant: things related to the issue
at hand or important solution to the work at hand.
6. Interviews: a formally arranged
meeting to get the opinion of person, company of group by the person called the
interviewer
7. Feasibility study: study carried out
to find out fact about a particular business or project of its
profitability.
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