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THE ROLES OF CAPITAL MARKET IN THE DEVELOPMENT OF SMALL SCALE BUSINESSES IN NIGERIA
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
1.2 Significance of the Study
1.3 Statement of the Problems
1.4 Objectives of the Study
1.5 Research Hypotheses
1.6 Research Questions
1.7 Method of Data Collections
1.8 Method of Data Analysis
1.9 Scope and Limitation of the Study
1.10 Definition of Terms
1.11 Brief History Of Cadbury Nigeria Plc (Case Study)
CHAPTER TWO
LITERATURE REVIEW
2.1 Introduction
2.2 History of the Nigerian Capital Market
2.3 Structure of the Nigeria Capital Market
2.4 Meaning of Capital Market:
2.5 Importance and Functions of Capital Market
2.6 Classification of Capital Market
2.7 Securities and Exchange Commission
2.8 The Control over the Nigeria Stock Exchange by the Commission
2.9 Functions of the Nigeria Securities and Exchange Commission
2.10 The Nigerian Stock Exchange (Nse)
2.10.1Clearing, Delivering and Settlement:
2.11 Function of the Nigerian Stock Exchange
2.11.1Membership of Nigerian Stock Exchange
2.11.2The Market Levels of Nigeria Stock Exchange
2.11.3Techniques of Going Public or Bringing Securities to the Stock Exchange (SSM)
2.11.4Benefits of Public Quotation
2.12 Definitions of Small Scale Businesses
2.13 Small Scale Businesses in Nigeria
2.14 Operational Definition of Small Scale Businesses
2.15 Social Desirable Effects of Small Scale Businesses
2.15.1 Socio – Economic Contribution of Small Business Firms to Development Process
2.16 Problems of Small Scale Business
2.17 Involvement of Small Scale Business In Nigerian Stock Exchange (NSE)
2.18 Relevance of Nigerian Stock Exchange to Small Scale Businesses
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Introduction
3.2 Research Design
3.3 Population of the Study
3.4 Sample and Sampling Techniques
3.5 Method of Data Collection
3.6 Method of Data Analysis
3.7 Scope and Limitation to the Study
3.8 Validity and Reliability of Data Collection Instruments.
CHAPTER FOUR
DATA ANALYSIS AND INTERPRETATION
4.1 Introduction
4.2 Bio – Statistical Data of Cadbury Nigeria Plc
4.3 Test of Hypotheses
4.4 Summary
CHAPTER FIVE
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
5.1 Summary of Findings
5.2 Conclusion
5.3 Recommendations
5.4 Suggestion for Further Studies
Bibliography
Appendix: Questionnaire
CHAPTER ONE
INTRODUCTION
1.1BACKGROUND TO THE STUDY
For any economy to remain afloat in its bid for survival in today’s globalization, deregulation and liberalization of markets, it needs to have an efficient business financial to direct the allocation of its resources, capital markets and institutions, of which the developmentis an integral part of paramount importance in a dynamic economy as Nigeria.
Capital market is a market for securities (Equity or debt), where business enterprises and government can raise long-term funds. It is also defined as a market in which money is provided for period of longer than a year, as the raising of short term funds take place on market e.g. Money market. The capital market includes stock market (equity securities and bond market, debt). Securities and Exchange Commission (SEC) oversees the capital market in their designated jurisdiction to ensure the investors are protected against fraud among other duties.
Nigeria is still grapping with the problems of low earnings with its attendant balance of payment problems, weak technological industries base resulting in massive importation of machinery and raw material, high rate of unemployment.
Actually, the economic turn down which started in 1978 is very much with us. The decline in Gross Domestic Product (GDP) from N26.9 billion in 1984 to N3.6 billion in 1985 marked the beginning of importation of the world’s cast away goods into our country making Nigeria a dumping ground.
Small scale business is the only way to boost export and redress the gloomy of balance of payment deficit.
Nigeria government recognized this fact in 1971; small scale industries credited scheme was introduced and followed up with the establishment of Nigeria Bank for commerce and industry in 1978. The Central Bank of Nigeria also introduced its small scale business.
Despite all these measure, it is still obvious that small scale business problem is funding. And the actual fact, the growth of the small scale business still centre on proper funding which is missing today.
Capital market is seems as an alternative way of raising funds. The enhancement of an advance and vibrant capital market can lead to utilization of financial resources. The developed capital market also provides access to the foreign capital for domestic industry. In this way, capital market plays a constructive role in the over-all development of an economy generally.
1.2 SIGNIFICANCE OF THE STUDY
Capital market has a great interest to the researcher which will help in increasing g my knowledge and skills. Also, this sector of the economy is one of the important factors and also plays a significant role in the natural economy.
A developed, dynamic and vibrant capital market can immensely contribute for speedy and economic growth and development.
1.3 STATEMENT OF THE PROBLEMS
The Nigeria small scale business is faced with the problems of inadequate and low working capital. This aspect of small has really slowly down their growth and development of small scale business to be at a small-pace consequently.
Mostly they depend mainly on self finance (saving and borrowing from friends and family) and loan from willing providers (bank) who are always reluctant of providing loans for them due to weak financial background or history. Small scale businesses in Nigeria also face the challenges of concentrating risk in the hand of the owner. Thus, such risk can be spread by bringing their business to the stock exchange.
The capital market is also having a fair share of the problems because of the in adequate supply of securities and fall in stock exchange market. Most companies especially the indigenous ones are still reluctant in raising funds through the capital market.
1.4OBJECTIVES OF THE STUDY
a. To inquire the development of the Nigeria Capital Market in the small scale businesses
b. To determine the trend/development of Capital Market
c. To inquire the factors that solely determines the Capital Market.
d. To make appropriate recommendation on the development of the Nigerian Capital Market.
1.5 RESEARCH HYPOTHESES
The following will be formulated and tested for the study.
Ho: Small Scale businesses methods are not used in the Nigerian Capital Market for the development of the firm
Hi: Small Scale businesses methods are used in the Nigerian Capital Market for the development of the firm?
Ho: Shareholdersdo not place reliance on small scale business in the Capital Market
Hi: Shareholdersdo place reliance on small scale business in the Capital Market
Note: H0= NULL HYPOTHESIS
Hi = ALTERNATIVE HYPOTHESIS
1.6 RESEARCH QUESTIONS
This research work will attempt to answer the following questions:
1. How does the development of small scale business related to Capital Market?
2. How relevant are the method of small scale business used in the Nigeria Capital Market?
3. To what extent do shareholders place reliance on small scale business in the Capital Market?
4. To what level the role of the capital market motivatethe growth and development of the small scale business has been met?
1.7 METHOD OF DATA COLLECTIONS
Both primary and secondary source of data collection will be applicable for this study.
PRIMARY DATA
This data will be obtained through interview investigation and questionnaires and face to face discussion
SECONDARY DATA
This data will be obtained mainly from the literature review or the ready made materials like written down documents which includes textbooks, bulletins and write-up by experts in this field and also from the internet.
1.8 METHOD OF DATA ANALYSIS
This chapter aim at breaking down fully how the data collection are used in the research work gathered, the data gathered is not an end itself rather it stands to be analyzed into meaningful and use information. The purpose of this chapter is to analyze an evaluation.
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