THE PROBLEMS OF PARTNERSHIP BUSINESS IN NIGERIA

(A CASE STUDY OF ESCO & CO WARRI DELTA STATE)

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ABSTRACT

This research is aimed at identifying the problems of partnership business in Nigeria and how to sole some of them. This as an attempt to present the frame work which will help various group of persons in partnership businesses and others desiring to become one to have a clear understand of some the problem they are to encounter in the business, especially those of them who are in a haste to form one without understanding the terms of the business neither having any form of agreement. Worthy to mention is the funding which constitute a lot of problems, lack of good planning and good management techniques not being applied which often militate against the progress of the partnership business.

In terms of organization this work is divided into five chapters enumerated as follows.

Chapter two: deals with the subject matter under review with reference to books of other authors, published journals, magazine of different opinion.

Chapter three: Discuss the methods of research the researcher embarked upon with the various instruments used in carry out the wok.

Chapter four forms the core of this research. Data’s collected were presented, analysed and interpreted and the hypothesis tested.

Summary of the findings, implications, conclusion and recommendations.

A list of bibliography and an appendix are provided at the end of this chapter for further classification and information on this study.

 

 

TABLE OF CONTENT

CHAPTER ONE

• Introduction1
• Statement of problems2
• Aims and objectives 6
• Significance of the study 7
• Statement of the hypothesis 8
• Scope and limitation of the study 9
• Definition of terms 11

 

 

CHAPTER TWO

• Literature review 12

2.1     General nature of partnership business 16

• Historical views of partnership business 17
• Definition of partnership18
• Types of partners 19
• Banking of partners 20
• Kinds of partnership 23
• Applicable laws of partnership in Nigeria 26
• Special characteristics of partnership business 28
• Formation and operation of partnership 29
• Formation procedures 29
• Partnership deed 31
• Power and liabilities of partners 33
• Advantages and disadvantages of partnership 35
• Limitation to partners’ liabilities 36
• Dissolution and winding up of partnership 37
• Conclusion 42

CHAPTER THREE

• Researcher meteorology and design 43

3.1     Introduction 43

• Research design 43
• Data collection instrument 44
• Primary data sources 44
• Secondary data sources 46
• Population description 46
• Method of analysis 47

 

CHAPTER FOUR

• Presentation and Analysis of data 48

4.1     Data analysis 48

• Presentation and interpretation of data
• Test of hypothesis

 

CHAPTER FIVE

• Summary, Findings, conclusion and recommendation

5.1     Findings

• Conclusion
• Recommendations

Bibliography

Appendix

CHAPTER ONE

INTRODUCTION

Long ago, many committed Nigerians have engage them self in one or two business entity to enhance economic growth. They engage them self in various sector of the economy to earn a living.

From past analysis and experience in this present economy has shown that many of these business organizations are not living up to expectation. In view of these it is hoped that a research analysis of the problems and prospect of business will be uncovered and causes of their poor performance. Orientation differs, ones the word ‘business” is pronounce, the message that rings in the mind of men especially in Nigeria is buying and selling of goods. But business is broader than that. Business can be defined as any activity one engage himself or herself with lawfully to earn a living, for the pu7rpopse of this research, I want to consider business as “every profit directed economic and commercial activities that provides goods and services necessary to a nation standard of living.

Business ownership can be classified into two namely: public enterprise and private enterprise.

Private enterprise comprises of sole proprietor ship, co-operative society partnership and limited company.

In this research we are going to concentrate mainly on issue concerning “partnership business”. According to Boron, Donan (1976) Partnership was defined as a business relationship between two or more persons who jointly own and manage a business. The maximum number is usually put at twenty people.

People find it easier to engage in sole proprietor ship and others to avoid certain problems that may arise in partnership business such as

• delay in decision making
• crisis of confidence
• chained activities of all new members to old ones.

 

• STATEMENT OF PROBLEM

A larger proportion of the business entities in this country are faced with similar problems. These problems hinder the growth and development of partnership business in this country, thereby limiting their enormous contribution towards the nation economic development. Some of these problems are listed below.

1. Poor finding sources