The impact of financial planning in the survival of small business in Nigeria was initiated but approved by able hands of the supervisor. The  ball was set running by articulated objectives and problem statements which this research intends to answer in  chapter one.
            To this effect review of post and present literary works was reviewed to come up with a new concept of the topic through definitions of new ideas of small business, financial plan to a full elucidation of what small business is and its relevance to the Nigerian economy. In chapter two.
            Furthermore, the research went on in stating detailed account on the method/technique of collecting data, and the sampling method in making decision. To this effect, tabular method of data using % response as a criteria. The decision made from the various information sourced from the data from table 4.1 – 5.0 was calculated from the chi-square in testing the hypothesis statements.
            Findings and recommendations made from these analyses was made to prospective readers and the same time look forward to a new dawn when the Nigerian economy will favour smooth running of small business.
Topic: The impact of financial planning in the survival of the Small Business Organisation.
Financial planning is an important aspect of business Management in various organization including small business organizations. It is therefore necessary that financial planning as an aspect of business management be given the important attention that it deserves.
This research study is being carried out in order to ascertain the overall affect of financial planning in terms of initial capital outlay. Poor financial management system and poor economic conditions of the Nigerian economy.
When in the study is completed. It will help to improve the financial planning in the management of small business organization to further enhance the survival of small business organization.
1.0                 INTRODUCTION
1.1                 Background of the study
1.2                 Statement of the problem
1.3                 Objective of the study
1.4                 Research Questions
1.5                 Research Hypotheses
1.6                 Significance of study
1.7                 Scope and  Limitation
1.8                 Definition of terms
2.1                 Financial plan
2.2                 Implementation of financial plan
2.3                 Problems of small scale business
2.4                 Support agencies for small business
2.5                 Survival of small business in Nigeria
3.1              Research Design
3.2              Area of the study
3.3              Population of study
3.4              Sample and sampling procedure
3.5              Types of data used
3.6              Location of data
3.7              Instrument of data collection
3.8              Method of data collection
3.9              Method of data analysis
4.1 Testing of Hypothesis I
4.,2      Testing of Hypothesis II.
4.3       Testing of Hypothesis III
4.4              Testing of Hypothesis IV
5.1              Findings
5.2              Conclusions
5.3              Recommendations
1.0              INTRODUCTION
1.1              BACKGROUND OF THE STUDY
In Nigeria today, the attention of most stake holders is in the management and maintenance of small scale business to promote grass root development. This idea is a fight which the federal government is putting through to all levels of government, including state and local government. To this effect, the stake holders has arranged and organized special bodies including financial institutions to finance and promote the growth of this said small scale business in all levels of government through out the federation.
Thus, before going deep into this work, it is penitent to define the concept of small scale business in other to ascertain the true meaning. The definition of small-scale business may vary from one country to another or from different schools of thoughts, since there is no universal accepted definition. According to Klott Lawrence (1973) small-scale business is any industry/business which is independently owned and operated and not dominant in its area of operation. It can also be defined generally as business owned, managed by one or two persons, influenced by the family in decision making, has no undifferentiated organizational structure, market share is small and employ less than fifty (50) persons. National Economic Reconstruction Fund (NERFUND) defined small-scale industries as those whose fixed assets value do not exceed N10m. on the other hand regards any enterprise whose annual turnover is less than (500,000) Five hundred thousand naira as small scale.
Furthermore, the National Directorate of Employment (NDE), defined small scale industries to include projects with capital investment of below five thousand naira and a staff strength of three (3) persons. The center for management Development gave the definition of operations, employing up to fifty (50) full time workers. Investment in plant and machinery but excluding land and building shall not exceed five hundred thousand (N500,000) naira power. Lastly, the center for industrial research and development of Obafemi Awolowo University- Ile-Ife defined small-scale industry “as those whose total asset in plant, equipment and working capital do not exceed N250,000  and with not more than 50 employees.
In the context of our society, the owner of a small scale business is assumed to include any person who runs a business. Thus, the man who owns a department store, bookshop, beer palour, printing press, beauty salon etc is an entrepreneur, or small-scale business owner. The small-scale business contributes a lot to the development of our economy. This business at some time back started from the scratch to big enterprises. In Nigeria today half of the  population are engaged in small scale business in various capacity which in turn yield money for them and the economy those that export their goods to other countries in international trade earn foreign exchange to the nation, thus improving the naira value. In other words, the ungoing programme of the NDE in creating and making employment easy for unemployed graduates in our economy, which has turned or made small-scale business to grow to a large extent involving business of all works of  life. The latest addition is in the communication industries, which now employ greater percentage of Nigerian as self employed. Since the down of GSM in Nigeria.
The big question then is how well are these small firms financed and planned to stand the test of time in the over fluctuating Nigeria economy. This then brings to our mind the important of financial planning of any small scale business for profit maximization, break even analysis and prevention of winding up or collapse. This is what the research work is posed to find out.
1.2              STATEMENT OF PROBLEM.
The question which this research work aims at
answering are summarized into the following problem statements.
Inadequate initial capital outlay
Poor management style in running small scale business.
Poor break-even and profit level.
Poor economic condition of the country.
1.3              OBJECTIVE OF STUDY
Building a small-scale business into a powerful edifice is not an easy task, proper financial foundation has to be in place for the business to stand. The small business in Nigeria like its counterparts in other industrialized nations lack economic stability and planning, therefore leading to winding up and closure of many business in the country but not withstanding, greater heights can be achieved if management status, and proper economic reforms are put in place. The opposite however will occur if bad economic reforms are used in causing inflation, poor financial standing and management level.
            The following are therefore the objectives of this study.
To determine the extent of initial capital outlay in small scale business.
To examine the influence of poor management system in small-scale business.
To investigate the effect of poor economic conditions of Nigeria in the running of small scale.
To examine the effect of poor profit margin on small scale business.
To recommend measures in improving small scale business in Nigeria.
1.4              RESEARCH QUESTIONS
The question this research work aims at answering is summarized in the following statements.
1.      To what extent has inadequate initial capital outlay militated against the survival of small-scale business in Nigeria.
2.      to what extent has poor management system affected the smooth running of small scale business in Nigeria.
3.      to what extent has poor break even and profit level affected the survival of small-scale business.
4.      to what extent has poor economic condition of the country militate against the survival of small scale business in Nigeria.
H0: Inadequate Initial capital outlay cannot make any difference in the survival of small-scale business in Nigeria.
H1:      Inadequate initial capital outlay can make a difference in the survival of small-scale business in Nigeria.
Ho: Poor management system cannot make any significant difference in the running of small business.
H1: Poor management system can make a significant difference in the running of small business.
Ho : There is no relationship in the economic conditions of Nigeria to the survival of small-scale business..
H1: There is a relationship in the economic condition of Nigeria to the survival of small-scale business.
Ho : poor break even profit level cannot make any difference in the operation of small-scale business.
Hi : Poor break even and profit level can make a difference in the operation of small-scale business
This work is of academic significance in the sense that it will contribute to the understanding of what small-scale business is, and the intricacies of maintaining it. It provides answers to the questions in the mind of the public on how best to manage it to avoid winding and closure.
            It is of practical significance in addition to the above, because it highlights the glaring problems encountered in the operation and management of small-scale business in Nigeria. It does not stop at the problem, but goes further to recommend solutions to these stated problems, and the point out the prospects in the future survival of small business in Nigeria.
1.7                  DEFINITION OF TERMS.
PLANNING: this is a calculated process for selecting future course of action directed at achieving determined objectives.
FINANCIAL PLAN: This is an arrangement or scheme for procuring the necessary fund required to finance or execute a business project.
WINDING: This is the closure or collapse of a business due to lack of funds to maintain it.
CAPITAL OUTLAY: The money invested in floating up a business into operation.
BREAK EVEN: This is a point where the total revenue equals the total expenses.
LIQUIDITY: The ease with which an asset can be converted into raw cash, sold or purchased in short duration or the solvency of a firm or asset.
TIME USE:  This is the time control schedule of  workers depending on their techniques so as to meet a specified production limit.
CONSUMER GOODS: These are the goods that are consumable within the completion of production by the public.
 Yours faithfully,


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