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CO-OPERATIVE MOVEMENT AND ENTREPRENEURIAL DEVELOPMENT

CHAPTER ONE

INTRODUCTION

1.1  Background to the Study

Cooperative movement and entrepreneurial development have been a major driver in the economic development of every nation including Nigeria, they promote the need for integration of various resources in driving the economic sector of the country. The new world Encyclopedia defines cooperative movement as an antonomias association of passing limited voluntary to meet their common economic, social and cultural needs and aspirations through a jointly and democratically controlled enterprise. Like in others third world countries, the cooperative movement thrives also in developing countries. The movement is an important means of gradually becoming economic and cultural backwardness, creating an independent economy and liquidating fended relations. If property managed the movement could serve as a school of collective management and a means of training and educating the population.

Nigeria has had its share in cooperative movement, with local agricultural cooperative societies beaming popular, thus contributing to the entrepreneurial development of the country. However, the business dictionary defines an entrepreneur as a person who organizes and manages any enterprise, especially a business usually with considerable initiative and ink, giving by the above definition, entrepreneurial is the process of designing, laundering and mining a new business. Nowonder Shame (2010) refers entrepreneurship to as the capacity and willingness to develop, organizing and manage a business venture along with any of its inks in order to make a project. Therefore, entrepreneurial development could be regarded as a means to expand and invest manage the potential risks. And cooperative movement as an economic process aims at contributing to such development, not joint in Nigeria but also in Akwa Ibom State. Nevertheless, challenges abroad in achieving proper entrepreneurial development through cooperative movement one of such challenges is non-popularity of cooperative investment in Nigeria.

1.2  Statement of Problems

Today, people find it difficult to change theirs lives and improve on their business enterprises. In this situation, corporate representing a strong, vibrant and liable economic alternative. For many years now, cooperate movement has been an effective way of controlling livelihoods for people. The movement provides a unique tool for achieving one or more economic goals.   As governments around the world out services and withdraw from regulating markets, cooperatives are being considered useful mechanisms to manage risk for members in agricultural or other similar cooperative the practice also helps salary/wage earners save for the future through a soft-felt monthly contribution that is deducted from source, cooperative generally provide an economic boost to the community as well.

Incidentally, cooperative movement is not very popular in Nigeria. Only recently worker cooperatives started gaining ground among working class citizens, most of who find it difficult to save part of their salaries/wages for the raining day. Cooperatives societies were thought to be associations meant only for farmers, small traders and other very income earners. This explains why quite a number of cooperatives farmers are found, particularly in southern Nigeria. The problem is that many people do not realize the role of cooperative movement in entrepreneurial development, and how it is considered in the world as a third force, an alternative and countervailing power to both big business and big government.

Cooperative movement funds it difficult to achieve its goals of entrepreneurial development due to financial constraints, poor management as well as poor government policies toward entrepreneurial development. It is against this background, that this study is necessary is determining the role of cooperative movement is in entrepreneurial development using Non-academic staff union of the university of uyo as a case study.

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