THE IMPACT OF COOPERATIVE SOCIETIES ON THE SOCIO ECONOMIC DEVELOPMENT OF RURAL COMMUNITY (A CASE STUDY OF OLAWUMI AYEDAADE COOPERATIVE. PLC)

ABSTRACT

This project is about The Impact of Cooperative Societies on the Socio Economic Development of Rural Community. It took in to the impact of the Impact of Cooperative Societies on the Socio economic at large. The project is diverted into five (5) chapters. The first chapter deals with the introduction, problem, statement, purpose of the study, definition of term and limitations. Second chapter deals with literature review, influence of business environment and its effect. The third chapters has to do with research methodology, simple size and population size, data collection method etc. The study and finding is chapter four (4) is all about, it tries to verify it findings against the expected result. The last chapter deals with summary, conclusion; recommendations and suggestion for further studies.

CHAPTER ONE

 

1.0       INTRODUCTION

1.1       BACKGROUND OF THE STUDY

Cooperative society is one of the oldest from of business organization that exist in our society. It has been in existence from the time immemorial cooperative society is from of democratic business organization meant for its members. Cooperative societies in Olawumi started with consumer cooperative aiming at providing consumer goods to its people as agreed in the cooperative by laws.

A cooperative .is an old business, it is voluntary association of people established after a period of careful study for the purpose of solving economic felt needs in the field of essential goods and services. It ism through the formation of cooperative societies that people have the opportunity to borrow money so as to finance their business like farming, supermarket, bakery, saw mill, patient and medicine store and many other business that are sited in rural area (small scale).

More so, the formation of cooperative society gives birth to cooperative offspring like cooperative press, cooperative bank, cooperative exporter limited located in almost all places of the federation including local government areas of Osun State. All the institutions mentioned above were set up to facilitate the progress, smooth running and development of numerous small scale project running in the area in Olawumi society, each cooperative halts its principal officers appointed or selected at the apex and lower levels, they include president of cooperative society union, affiliated president of the affiliated society treasurers, securities, auditors, managers and a few others.

The beneficiaries of such society include farmers, trader, pensioners, civil servants etc. All categories of people mentioned above have used the benefit derived from such to manage their own small scale business examples of Olawumi cooperative society including Itesiwaju Cicu Limited, Irewole (Ikire) Cicu Limited, Ayedade (Ifesowapo)Cicu limited etc.

 

1.2       STATEMENT OF THE PROBLEMS

Cooperative societies are faced with many problems in the country as a whole and the main problems that of ignorance. Many people in Olawumi cooperative society and Osun at large do not know much about the existence of cooperative. The worth of cooperative societies is not known to many people hence, majority of the local populace pay less attention to it. The question that comes to one’s mind went thinking about cooperatives as related to this study are: is a cooperative being faced with problems in Olawumi and Nigeria at large? If yes, are the problems facing cooperative in the country?

What are the possible solutions to the problems? Thus this research will examine the activities of cooperative societies towards the development of small scale business in the study area. To achieve this, the research will focus on impact of cooperative on the socio – economic development of a rural community in Osun state and Nigeria as a whole

 

1.3       OBJECTIVES OF THE STUDY

The purpose of this study is to examine the impact of cooperative societies on the socio – economic development to the member as people in general and the development of the rural community (small scale) in our society. Also the study will attempt to investigate the contribution of cooperative to the survival of small scale business in the community.

More so, it will stimulate all other researchers to develop interest in the researching into the impact of cooperative movement on the socio – economic development and influence of small scale business in the study

 

1.4       SIGNIFICANT OF THE STUDY

The cooperative societies have helped socially and economically toward the development of small development of scale business in the rural communities especially in the study area. This is when people become aware of the importance of cooperative societies. This research work is significant for the following reasons.

It will aid the socio – economic development of a number of cooperative societies in the area. It will also create awareness to the people for the benefit to be derived from joining cooperative societies.

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