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PROBLEMS AND PROSPECTS OF RETAIL BUSINESS ADMINISTRATION IN NIGERIA

Project Topic: Problems and Prospects of Retail Business Administration in Nigeria


CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

1.2   STATEMENT OF THE PROBLEM

1.3   OBJECTIVES OF THE STUDY

1.4 RESEARCH QUESTIONS

What are the prospects of retail business?

What are the problems facing retail business?

What are the possible remedies to the problems facing retail business?

Can this study or research serve as an educative material to some institutions and the entire society at large?

 

1.5   FORMULATION OF THE HYPOTHESES

Some of the problems facing retail business are lack of proper planning before venturing into business, lack of adequate fund or capital to establish, maintain and expand business, too much reliance on the use of trade credit, losses of in coverable debts, lack of knowledge on how to run business and problems from fake task officers especially in our country Nigeria.

Some of the possible remedies to the problems facing retail business are proper planning before venturing into business, having adequate fund or capital to establish, maintain and expand business, proper management, avoiding the use of trade credit, acquiring necessary knowledge on how to run business, adapting to the new business updates and like in our country Nigeria it is very vital that any retailer should go to the original task office and pay his or her bills accordingly.

Moreover this study could serve as an educative material to some universities and the entire society at large.

1.6   SIGNIFICANCE OF THE STUDY

So many retail business do fold up entirely today due to lack of knowledge on how to run retail business, this study will help in teaching them at least to know the basics of retail business. This study will also serves as a research or educative material to some institutions. This study can also help a layman to understand or have knowledge what retail business entails with the help of this study a retailer will be able to acquire the knowledge on how to get rid of this or her business problems or problems facing his or her retail business. A retailer can also through this study learn how to avoid problems in his or her retail business. In essence this study is of a great importance to retailers (including starters), students in the higher institutions, researchers, and the entire society at large.

1.7   SCOPE OF THE STUDY  

This study covers the aspects of retail business, retail business prospects, retail business problems and how to tackle or remedy the problems. This study will also serve has a research materials to some institution. This study will also serve as a knowledge or educative material to the retailers and the entire society at large.

1.8   LIMITATIONS OF THE STUDY

When I was about starting this research there are some certain business tycoons that I wished to contact but I couldn’t manage that because I didn’t have their contacts, even the one I have their contacts, I couldn’t book up an appointment with them because they were too busy for me.

Fund or finance was my second problem in this research, I would have liked to purchase more international books even more sophisticated books for this study but, I didn’t have enough money to do that. There are some places I wished to go and search for more information’s but transport fare was not there.

I really would have liked to go further on the research before putting it to writing but time factor was also one of my problems, I never had time as I wanted because I was also preparing for my degree examination while researching writing this study.

—This article is incomplete———–This article is incomplete———— It was extracted from a well articulated quality Project, Research Work/Material

Project Topic: Problems and Prospects of Retail Business Administration in Nigeria

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