Private Enterprises And Rural Development

This work centered on private enterprises and rural development in Anambra state. The objectives include: to ascertain the extent to which private enterprises have contributed to rural development in Anambra state; to find out the challenges facing private enterprises in rural development in Anambra state; to examine the measures to enhance participation of private enterprises in rural development in Anambra state. It is a survey type of research since it investigated what happened in the researcher"s absence. It is also explanatory in nature; having tried to explain the role played by private enterprises in Anambra state. In sampling, stratified random sampling technique was applied where the researcher created strata to represent different interests within the population

Introduction

1.1 Background to the Study

In mixed economies like Nigeria, there exist two sectors in the economy. These sectors in spite of the difference in their nomenclature, goals, mission and vision, do work hand in hand to maintain a healthy economy. These sectors include public and private sectors. The public sector includes all those agencies, organizations, institutions, etc. that are under government management and control. On the other hand, the private sector includes establishments, businesses, agencies, etc that are in the hands of individuals or groups.

In other words, Henry (2012:55) opines that the public sector is composed of governments, government agencies and government corporations. Implicit here is the fact that the public sector is directly under the management and control of government. The author goes further to maintain that the private sector includes profit-seeking companies. This underlines the fact that the private sector is profit-oriented; everything they do, they do in a bid to make profits on invested income.

Similarly, in the words of Marchetti (2007:6), the rural private sector includes a whole continuum of economic agents, ranging from subsistence or small holder farmers, rural wage-earners, livestock herders, small-scale traders and micro entrepreneurs; to medium-sized, local private operators such as input suppliers, microfinance institutions, transporters, agroprocessors, commodity brokers and traders; to other, bigger market players that may or may not reside in rural areas, including local or international commodity buyers and sellers, multinational seed or fertilizer companies, commercial banks, agribusiness firms and supermarkets.

1.2 Statement of the Problem

The fact that the private sector is profit-oriented everything they do, they do in a bid to make profits on invest income. Similarly, in the words of Marchetti (2007:6), the rural private sector includes a whole continuum of economic agents, ranging from subsistence or small holder farmers, rural wage-earners, livestock herders, small-scale traders and micro entrepreneurs; to medium-sized, local private operators such as input suppliers, microfinance institutions, transporters, agro processors, commodity brokers and traders; to other, bigger market players that may or may not reside in rural areas. On this background the researcher wants to investigate private enterprises and rural development.

1.3 Objective of the Study

The objectives of the study are:

To ascertain the relationship between private enterprises and rural development

To ascertain the contributions of private enterprises on rural development

To ascertain the major enterprises in rural area

1.4 Research Hypotheses

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: there is no relationship between private enterprises and rural development
H1: there is relationship between private enterprises and rural development

H02: there is no contribution of private enterprises on rural development
H2: there is contribution of private enterprises on rural development

1.5 Significance of the Study

This study will give clear insight on private enterprises and rural development. The study will beneficial to students, businessmen and the general public. The study will show impact of private sector on developing rural communities. It will also serve as a reference to other researchers that will embark on this topic.

1.6 Scope and Limitation of the Study

The scope of the study covers private enterprises and rural development. The researcher encounters some constrain which limited the scope of the study;

a) Availability of Research Material:

The research material available to the researcher is insufficient, thereby limiting the study

b) Time:

The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

c) Organizational Privacy:

Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities

1.8 Definition of Terms

Private Enterprises:

Business or industry that is managed by independent companies or private individuals rather than being controlled by the state

Rural Development:

Rural development is the process of improving the quality of life and economic well-being of people living in rural areas, often relatively isolated and sparsely populated areas. Rural development has traditionally centered on the exploitation of land-intensive natural resources such as agriculture and forestry.

1.8 Organization of the Study

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.

Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.

Chapter three deals on the research design and methodology adopted in the study.

Chapter four concentrate on the data collection and analysis and presentation of finding.

Chapter five gives summary, conclusion, and recommendations made of the study

Summary, Conclusion and Recommendation

5.1 Introduction

It is important to ascertain that the objective of this study was to ascertain private enterprises and rural development. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of private enterprises and rural development

5.2 Summary

This study was on private enterprises and rural development. Three objectives were raised which included: To ascertain the relationship between private enterprises and rural development, to ascertain the contributions of private enterprises on rural development, to ascertain the major enterprises in rural area. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of selected enterprises in Awka, Anambra state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made managers, secretaries, administrative staff and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

5.3 Conclusion

The findings are that: private enterprises in Anambra state have not contributed to rural development through the provision of social infrastructure, though their presence in the rural areas of Anambra state has helped in solving the problem of rural-urban migration. They have provided employment as in the case of Innoson Nigeria Limited; poor planning, lack of managerial skill and lack of fund are among the challenges facing private enterprises in rural development in Anambra state; the formation of unions and associations by private enterprises, fair government regulations and cordial relationship between the private enterprises and the rural community are some of the measures that enhance participation of private enterprises in rural development in Anambra state.

5.4 Recommendation

Finally, we recommend that: private enterprises should as a form of corporate social responsibilities, provide social amenities that will improve the living standards of the local people; there is need for sustained collaboration between government and the operators of private sector organizations by providing adequate incentive and the needed enabling environment to stimulate and foster the growth of the private sector organizations in Nigeria; rural populace should increase their efforts in patronizing the products and services of private enterprises in the rural area in order to encourage them to serve the rural people better and expand their ventures and bring development to the rural people.

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