CHAPTER ONE
- INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Cooperative according to Chukwu (1990:1) is a generic term. It implies any form of two or more persons working together to achieve some aim, such working together many be on a formalized or informal basis, economic or non-economic.
However, a cooperative society is an association of person who have voluntarily joined together to achieve a common goals through the formation of a democratically controlled organization, it has long been a human characteristics to fraternize to provide food, shelter, employment and other forms of mutual support, mutual benefits derivable by families and individuals working together at harvest.
Moreover cooperative has involved as a strategy to generate economic activities in area of high implement i.e. generation of employment, such as Ikwuano L.G.A. or wherever the local economy is work or virtually non-existents.
Furthermore, membership is open to the residents of a particular locality. The establishment of community enterprises will almost certainly be multi functional in that it will be responsible for a member and a number of specific projects at any given time. It will both initiate business idea within the people in Nchara Oloko and help the masses to develop their ideas. It may also intervene in various ways in the local economy of Nchara in particular and national economy at large. It may sponsor projects of community benefits in addition to its own trading activities and business development and local development both holding company and local development agency, with the aim of seeking to provide a communal structure in a particular locality on behalf of the residence such specific enterprises might be floated as self sustaining business life cooperative.
This community is thus more than trading organization it is a means of stimulating new business growth in areas like Nchara Oloko and also among people where there is little or not tradition of entrepreneurial activities and usually a history of long term unemployment and social depreciation.
Community cooperative and community business are established mostly in areas of high unemployment so as to generate employment where their starting is likely to be the question posed by local people. What can we do to get people employed.
They search for forms of self-help by community groups and unemployment themselves have gained considerable momentum in the last decade. As practical experience has been gained more groups have been inspired to do something in their own areas, an action born out of a growing belief that neither public nor private industry will be quick enough to provide the job that are needed and of a preference to do something rather than wait on other action.
- STATEMENT OF PROBLEMS
The issue of employment generation can be said to be as old man, since no man can make progress when idle. Now that there is a high rate of employment resulting in comparative high rate of emigration. In 1985 the country’s labour force employed about 14 million, which has increased by 16% over the decade. There are over 250,000 unemployed persons and emigrations again increase (Daily Time Sept 19th 1995).
A cruel twist is that many of our emigrants and the unemployment are the bright graduates or our universities and other higher institutions they were educated with tax payers money.
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