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Full Project – Cooperative and economic development

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CHAPTER ONE

1.0 INTRODUCTION

The need for alternate community and economic development strategies throughout Florida has been widely recognized. This is particularly relevant in the increasingly fragile climate where the mainstays of rural economies namely agriculture and tourism operate. In response to decreasing agricultural opportunities and growth pressure, extension faculty routinely seek new approaches and opportunities for community and economic development. Cooperatives that produce a variety of goods and services can help meet this need.

Historically, agricultural cooperatives have been a successful and common aspect of rural life. These cooperatives allowed for economic stability and provided a framework for local community based investment. The latter is particularly important because, while complementing economic development, cooperatives also directly contribute to community development by establishing local channels of communication and enhancing local decision-making (Brennan and Luloff, 2005). Aside from traditional agricultural and livestock ventures, cooperative focusing on livestock, fishing, forestry, and other natural resource-based activities have also been effectively used (Bendick and Egan, 1995). However, cooperatives can take a variety of other forms based around tourism, the arts, small manufacturing, aquaculture, and other conditions reflective of the unique local characteristics of the area (Cawley et al, 1999: Jodahl, 2003; Philip, 2004; Brennan and Luloff, 2005). Recent research shows specialized production cooperatives and small manufacturing enterprises have also show promise and are increasing in use (Cawley et al, 1999; Jodahl, 2003; Philip, 2004; Brennan and Luloff, 2005, USDA, 2005).

Considering the diverse populations, histories, arts, and natural resources that exist throughout Florida, cooperatives could provide an alternative economic development strategy for our communities. These unique and diverse forms of cooperatives could be useful tools for extension and other community development professionals to use in contributing to both the economic and social needs of our communities.

1.1 GENERAL OVERVIEW OF THE STUDY

In this context, a definition of the term ‘cooperative’ is needed. According to ICA (2006), cooperative enterprises are ideally based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. These values are important, but not by themselves sufficient to guarantee the viability of cooperative enterprises. We think that economic aspect and forces eventually determine the viability of cooperative enterprises. Hence, we define cooperatives as economic enterprises with member ownership and control that are preferably established voluntarily to correct or mitigate the negative impact of market failures for the benefit of their members. In cooperative enterprises, persons can reach economic objectives by joining forces and pooling their resources, which the individual would be unable to achieve (Muncker, 2020). Cooperative enterprises can facilitate and ensure market access, create economies of scale and scope, and independent market positions. As a consequence, they can leave positive marks on a country’s economic and social structures.

(Ambruster, 2011) in other words, they can have a presence or an added value in society only if they are economically viable in the medium to longer term. Cooperative enterprises that are sheltered from economic and market forces for social and/or political reasons have no real legitimacy and no reasonable chance of survival. In this situation, they actually distort the market environment. But with development, other types of cooperative have been established as follows;

Thrift and credit societies.
Consumers societies.
Group forming societies.
Multi-purpose cooperative societies more than 90% of all cooperative in the country constitute agricultural cooperatives.

1.2 STATEMENT OF THE PROBLEM

The major problems of cooperative societies are finance. This factor is considered the life span of any organization and the smooth and proper running of an organization of firm.

Hence, it (finance) embraces all other problem of cooperative where there is inadequate finance. The running and operation of organization and form are bound to be jeopardized.

Lack of education of members’ on cooperative business. This is a very big problem facing cooperative because majority of members are not educated. Hence with their little or no knowledge they cannot be able to achieve a goal in terms of proper planning and administration of duties. Inefficient management as one of the problem is also as a result of lack of education and fund respectively. This is because people who should have been educated lack the funds in use in carrying out their academic pursuit. This considering the high cost of education.

Inadequate infrastructure: in many places it is well known that cooperative should provide good offices and equipment for their various operations but unlike the developing countries like ours. In Nigeria the reverse is the case.

1.3 OBJECTIVE OF THE STUDY

To access the role of cooperation in the development of rural economy.
To know the source of their financing through determining the functions it performs.
To enlighten cooperatives societies.
To identify the achievement of the cooperative societies whether it actually brings about economic growth and rural development for the people in that area.

1.4 SCOPE OF THE STUDY

Cooperatives societies have been most successful in the area were people with tradition tendencies for collective works like caring and rural agriculture. This study will identify achievement of cooperative society due to the geographical location of most members that comprises society with respect to the time allocated for the study being short and level of illiteracy in Ngor-Okpala L.G.A.

1.5 RESEARCH QUESTIONS

This research is tending to answer questions like:

Does cooperative access the performance of cooperative financing and rural development in Nigeria?
Do the identify the aims and objectives of establishing cooperative financing and rural development in Nigeria?
Are they really benefiting from joining the CTIS?
If “yes” what are those benefit of joining CTIS? All these questions will be answered in chapter four (4).

1.6 SIGNIFICANCE OF THE STUDY

The major problem facing Nigeria today are the needed to transform her rural community which are predominately farmers in order to enable her met the social and economic balancing created by lopsided development between her rural and urban areas. This state of affairs has been attributed to lack of an appreciation of the important roles cooperative play in bringing about rural development of the country.

The study of cooperative and economic development is important for the following reasons;

They offer the most favourable avenue for government to reach the rural areas and effect their transformation.
They can be successful used in mobilizing group for community projects.

This research is relevant to the government and policy makers on rural development who are still on the lookout for a better option for financing rural development. It would also be of relevance to study this topic for research purpose.

1.7 LIMITATION OF THE STUDY

In the process of this research, inadequate funds has been one of the limiting factors that the work faced. Much money was incurred in the distribution of the questionnaire as well as personal interview attitude of the fraction within the vicinity.

Again time allocated for these research work was very short visa-a-vis the areas of the study.

1.8 DEFINITION OF TERMS

Rural Development: This is defined as the change process that influences positively the lots of the rural area. The effect of the people themselves is united with those of government authorities to improve economic, social and interpret these areas in the life fully to nation progress.

Rural Areas: This is an area having a population of not more than 300,000 and where the major economic activities is farming or little above subsistence level.

Cooperative Finance: This is concerned with the supplies of funds for the operation and the running of cooperative activities.

Investment: This acquisition of durable productive facilities either financial or physical undertaken in the exception of future gains.

Cooperative: This is an organization owned and managed by private individuals for the benefits of those using the services.

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