Role Of Co-Operative Societies In The Provision Of Credit Facilities For Small Scale Business In Kogi State
Emeka P Ugwunoti I
Department of Technology and vocational Education, Enugu State University of Science and technology
Idakor Moses
Department of Technology and vocational Education, Enugu State University of Science and technology
Keywords: Co-operative societies, credit facilities, small scale businesses
Abstract
The study sought to identify the of role co-operative societies in the provision of credit facilicities for small scale businesses in Kogi State. The population for the study was made up of 86 respondents (37 business men and 49 business women) from Afor gam-gam, Eke Ade and Ede markets in Akpa Local Government Area of Kogi State respectively sampled purposively. Three research questions were raised and answered using mean with standard deviation while hypotheses formulated were tested using t-test at .05 level of significance. The study adopted a survey research design while data were collected using a structured questionnaire developed by the researcher. The instrument was validated by three experts. The reliability of the instrument was established using Cronbach’s alpha reliability estimate, which gave a high co-efficient index of 0.89. Some of the findings of the study among others included that co-operative societies plays important role in providing small scale businesses with loan facilities in Kogi State as it permits payment by installment, committed facility, accepts payment before scheduled date; co-operative societies also play immeasurable role in providing small scale businesses with revolving credit facilities in Kogi State as it accepts advance repayment, fixing interest paid over periods, maximum amount can be borrowed and many. The study further recommends that the Government should make law favourable as to encourage the establishment of more co-operative societies for provision of improved credit facilities in Kogi State.