Assessment of the Impact of Pos Businesses in Reducing Unemployment Rate in Asaba
CHAPTER ONE
Objective Of The Study
- To assess the impact of POS business on unemployment.
- To know if POS is being used by small business in Nigeria
- To learn if POS business decreased unemployment in Nigeria.
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
Our focus in this chapter is to critically examine relevant literature that would assist in explaining the research problem and furthermore recognize the efforts of scholars who had previously contributed immensely to similar research. The chapter intends to deepen the understanding of the study and close the perceived gaps.
Precisely, the chapter will be considered in two sub-headings:
- Conceptual Framework
- Chapter Summary
CONCEPTUAL FRAMEWORK
Unemployment
Unemployment can be defined as a situation in which people are willing to work at the prevailing rate of pay, but cannot find a job. Jhingan, M. L. (2001). However, he has categorized unemployment as frictional, seasonal, structural or cyclical in nature. Frictional unemployment refers to a situation when people are temporarily unemployed. This may arise due to changing labour force and jobs in an economy. Seasonal unemployment on the other hand refers to a situation when people lose their jobs due to the nature of jobs. Structural unemployment arises in an economy when all factors of production are committed to production of goods and services (full-employment). While, cyclical unemployment is caused as a result of changes in aggregate demand.
The major causes responsible for the persistence of unemployment in Nigeria include the following; slow growth of the economy, undiversified economic structure, inadequate infrastructure, Shortages of skilled personnel, inadequate capacity of vocational skills etc Balami (2006).
The problem of unemployment has in recent years aggravated the problem of poverty, political instability and insecurity in Nigeria. As such the provision of employment opportunities and eradication of poverty has been at the center stage of economic policy reform in Nigeria. For example the National Economic Empowerment Development Strategies (NEEDS) have job creation, poverty reduction and wealth creation as its major goals (National Planning Commission, 2004).
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is persons above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period.
CHAPTER THREE
RESEARCH METHODOLOGY
AREA OF STUDY
Asaba is a city located at the western bank of the Niger River. It is the capital of Delta State, Nigeria and one of the 3 towns of Oshimili South Local Government Area, A fast developing urban area, Asaba had a population of 149,603 as at the 2006 census, and a metropolitan population of over half a million people.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of sixty five (65) questionnaires were administered to respondents of which fifty (50) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 50 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS:
Introduction
This chapter summarizes the findings on the impact of POS businesses in reducing unemployment rate in Nigeria using Asaba, Delta State as case study. The chapter consists of summary of the study, conclusions, and recommendations.
Summary of the Study
In this study, our focus was to examine the impact of POS businesses in reducing unemployment rate in Nigeria using Asaba, Delta State as case study. The study is was specifically focused on assessing the impact of POS business on unemployment, determining if POS is being used by small business in Nigeria, and ascertaining if POS business decreased unemployment in Nigeria.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 50 responses were validated from the enrolled participants where all respondent are staff and owner of POS business inn Asaba Delta State.
Conclusions
The time at which banking business required only the physical presence of the customers or their agents in the bank premises has gone to the era where banking activities can also be carried out from anywhere in the society with the aid of electronic devices. The implication is not that Nigerian banking system has gone to the era where there is an outright absence of cash transactions in the banking sectors or to rapidly increase the rate of unemployment but the one in which the amount of cash-based and in-bank cash transactions are kept to the barest minimum. This innovation has in-turn generated humongous employment opportunities to a good number of Nigerians. As many individuals has secured a self-employment space for themselves through the use of POS devices and even to the extent of having employees who work at different branches. Since the POS was introduced in the financial sector, the Point of Sale terminal has evolved from being an electronic device, used during transactions to process card payments, to a source of livelihood for many Nigerians. Thus, the report from the findings analyzed shows that;
- POS businesses has affected employment in Nigeria.
- Small businesses in Nigeria do make use of POS machine.
- POS business has decreased unemployment in Nigeria as well.
Recommendation
Based on the findings the researcher recommends that the Nigerian Government should empower a good number of unemployed citizens of the nation through the establishment of POS businesses. In addition to this, the Government should ensure adequate availability of power and stability of mobile network in the society. This will go a long way in promoting the profitability and effectiveness of POS businesses. Lastly in other to curtail the vexatious rate of unemployment in the country the government should utilize the numerous recommendations outlined in chapter two of this study.
REFERENCE
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- Adams, D. A., Nelson, R. R., & Todd, P. A. (1992). Perceived usefulness, ease of use, and usage of information technology: A replication. MIS Quarterly, 16(2), 227-247.
- Adeoti, O. O. (2013). Challenges to the efficient use of point of sale (POS) terminals in Nigeria. African Journal of Business Management, 7(28), 2801-2806. doi: 10.5897/AJBM12.1129
- Adeoti, O. O., & Oshotimehin, K. O. (2011). Factors influencing adoption of point of sale terminals in Nigeria. Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 2 (5), 388-392
- Adeoti, O. O., & Oshotimehin, K. O. (2012). Adoption of point of sale terminals in Nigeria: Assessment of consumers’ level of satisfaction. Research Journal of Finance and Accounting, 3(1), 1-5.
- Adeoti, O.O. (2013), ‘’Challenges to the efficient use of Point of Sale (POS) terminals in Nigeria’’ African Journal of Business Management, 7(3), 67-88.
