Select Currency
Translate this page

PARTNERSHIP BUSINESS AND ITS CONTRIBUTION TO THE ECONOMICS DEVELOPMENT AND GROWTH OF NIGERIA

Format: MS WORD  |  Chapter: 1-5  |  Pages: 51  |  904 Users found this project useful  |  Price NGN3,000

  DOWNLOAD THE FULL PROJECT

PARTNERSHIP BUSINESS AND ITS CONTRIBUTION TO THE ECONOMICS DEVELOPMENT AND GROWTH OF NIGERIA

 

ABSTRACT

This project work was designed to examine the contribution of partnership business to the economic development and growth of Nigerian, Enugu Metropolis used as the case study. The objectives of the study were as follows: To Ascertain the ways of solving some problems that are hindering the growth of partnership business in Enugu. To identify the roles of Enugu State government towards the formation of partnership business. To make recommendation based on the research findings. The researcher made use of both primary and secondary sources of data.  In the primary source of data personnel interviews were held with some partnership business. In addition questions were also drafted for the business to tick were appropriate. The data Collected were analyzed in labour from –Chi - Square were used in testing the hypothesis and the hypothesis were tested at 5% level of significance. In the recommendation the following were recommend among others: The government should assist in providing adequate capital base and give room for expansion. Partners should endeavor to take quick decision concerning their business transactions. This will however encourage more people to engage in partnership business. Partnership should be an avenue through which adequate employment opportunities are provided to the terming population. The government should increase their awareness to the masses towards their formation of partnership business.

 

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

SECTION 1 (1)  of the partnership act (1890) defines a partnership as the relation which subsists between person carrying on business in common with view of profit.  It is however the joining together of two or more person in a business each of whom is personally responsible for the growth of Firm (Lipsey 2014) Thus are of the ways by which  the sole proprietor can expand his business is to turn it into partnership.

It enable “now blood” to be introduced into the business and make possible an increase in capital (Hanson 2016).  A partnership has greater continuity of existence partners have equal power and responsible and each is jointly liable with the others partners for all debts and obligations of the firm and a partners can make a contract which is binding on his Co-partners  (Lipsey 2014)  However it would Obviously be most unwise to enter into partnership with anyone unless convinced of his integrity.  Judgement and business acumen.  Trust is not only verbal trust but also a written deed of partnership which makes it easier to prove the terms of partnership in case of any dispute.

Furthermore, selection 19 of the companies and Allied matters act. (1990) Stipulate that maximum number of persons that can from a partnership is 20 persons that can form a partnership is 20 except in case of professional people. Where by they are not professionals and exceeds the stipulates limit, the firm must register under that act or it will be regard as an illegal partnership (Oko, 2012). Partnership business contributes tremendously tot he economic growth and development of the country, bringing about economics of scale, creates employment, improves the standard of living of the people and promotes business objectives (synergy Alimba 2014). 

Mezue and associates which is among the numerous partnership business in Enugu is duly registered with the corporate Affairs Commission in line with the provision of the Companies and Allied matters act (1990) as an estate management firm which operation in its own name and not as an agent to any Large Firm.  The firm was registered according to the rules and regulation governing the Nigeria Institute of estate Surveyors and values (NISV) in 1980 consequently, the firm went into full operation in 1982 as an estate firm for the provision of real professional estate. Services to both the government corporate bodies and individuals.

It also indulges in the management and valuation of properties in many state of the Federation including Abuja.

Suffice it to say that all partners part take in the decision making and proper management of the firm.   The firm has three branches located at Lagos, Onitsha and Aba with its head office at Enugu.

Each having a branch manager who take decision according to the rules and policies of the firm.

Finally, the overall motive of the firm is to deliver professional services to the people and also make profit extremely difficult to raise money from many persons through a partnership.  And also the provide them with loans.

In Conclusion inefficient managerial ability is one of the problems of partnership business in Nigeria because most partners do not posses the technical know-how on how to effectively manager the partnership business. 

Therefore the flowing research questions are asked, what are the contributions of partnership business to the economic growth and development of Enugu Metropolis ? What are the roles of government toward the formation of partnership business in Enugu Metropolis why do people engage themselves in partnership that any other types of business can be solved?

1.2       STATEMENT OF THE PROBLEM

Partnership business are faced with numerous problems which includes the following:

1. PROBLEM OF UNEMPLOYMENT

There is a great deal of unemployment problem in our country most gratuities do not gain employment after their studies and even those who are employed in ministries and parastatal cannot absorb all that needs to be employed hence the need for the private sector participation.  Incidentally except partnership business  come to the resource and problem of this country remain an uphill task.

2. PRODUCTION OF GOODS AND SERVICES

Without partnership business the production of some of the goods and service will be in efficient.  However, partners will bring out their technical and managerial skills during the production of goods and services which has more quality and also increase the qualities of such goods.  This  without partnership business there will not be much quality goods and services produced by the private sector since majority of the Citizens do not have much income to patronize Luxury goods.  Similarly partnership business will allow individuals with limited capital to team up together to produce necessary goods for the teaming population.

3. INCREASE IN GOVERNMENTS REVENUE

Partnership business helps to increase governments  revenue through the payment of taxes such as the registration of the company under the  Corporate affairs Commission payment of Business there Levies e.t.c hence, without partnership business there would not be much private Companies which will on the others hand affect the government revenue generation.

1.3       PURPOSE OF THE STUDY

In view of the above mentioned problems which are associated with partnership business, let us concern ourselves with he problem of unemployment. The problems of employment entails that without partnership business there would not be Job opportunities for the masses in Enugu Metropolis partnership business general employment for more than 30% of the masses in Enugu metropolis. Most of our school graduate who are not employed, now have the opportunity of gather their Capital together in order to establish a business, thereby creating employment of themselves by selling up business to the economic growth of Enugu.

i  Ascertain the ways of solving some problem that are hindering the growth of partnership business in Enugu.

ii  Identify the roles of Enugu state government towards the information of partnership business.

iii Make recommendation based on the research findings.

1.4 SIGNIFICANCE OF THE STUDY

Economic growth:  It is graded as the increase per Capital of a Country.

Firm:  Is the smallest unit of a Company that takes decisions with the product and sales of a commodity.

1.5 SCOPE OF THE STUDY

Partnership business means’s by which people gather their resources together, transact business with the view of making profit. This contributing towards economic growth and development of the nation. This research project work tends to explain the impact of partnership business towards the Improvement of the Social-economic well being of the populace.  It is also designed to expose any short falls n partnership business in Enugu metropolis thereby providing information on how partnership business is best managed.

 

REFERENCES

Alimba J   .O (2014)    Lecturers note on Agric Business unpublished

Companies and Allies Matters decree (1990) Section 19.

Hanson J. L (2016)  A textbook of Economics Macdonald and Evanse Lit Fifth Edition.

Lapsey  R. G (2014)  An Introduction to positive Economics Harper and Row publishers Fifth edition

Okoh O.  (2012)   Lecture note on Business Law unpublished.

  DOWNLOAD FULL PROJECT

Not What You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 541 351 187


Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Lasu
Swift delivery within 9 minutes of payment. Thank you project master
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent

HOW TO GET YOUR COMPLETE PROJECT INSTANTLY

  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on 0813-292-6373 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.

FREQUENTLY ASKED QUESTIONS

How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: (+234) 813-292-6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!