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Author(s): Lebechukwu David Uzochukwu, Odo Kenneth Ejiofor, Okoro Stanley Ngozi Anicho, Raphael Michael Ugochukwu.

Volume/Issue: Volume 7 , Issue 2 (2024)

Abstract:

The quest for economic survival has made several Nigerians delve into small-scale businesses which has improved the per-capita income of the average Nigerians, and led to the initiation of the Cooperative Scheme. This research unveils the significance of the cooperative society and its multiple effects on the small-scale firms. The benefits inherent in the cooperative societies and the small-scale business are highlighted; and its constraints, funding and prospects are equally identified. Some relevant research instruments aided the methodological approach and consequently, the justification of the empirical study. The study shows that if cooperatives play their proper role in the development of small scale business, specifically pure water manufacturing firms, other entrepreneurs will be encouraged to establish and consolidate their enterprise in a record time. Finally, based on response comparison, the study also shows that the considered factors that affect the contributions of cooperative societies to small scale business development are very significant; and hence should not be overlooked.

Keywords:

Small scale enterprise, Cooperative society, Economic development, Funding, Capital base.

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