BUSINESS SURVIVAL WITHOUT BORROWING A STUDY OF CRITTALL – HOPE NIGERIA LTD
ABSTRACT
The survival of a business depends to a large extent on the availability of enough funds to
finance, its operations. It is indeed not an under-statement that a business that is
inadequately financed face the risk of dying.
Broadly, there arc two methods of financing business operations; owners’ equity and
debts (borrowings). An examination of many businesses balance sheets revealed that
over 90% of business organisations have one form of debt or the other in their capital
structure. These debts ranges from long, intermediate or short-term, sourced from both
financial and non-financial organisations.
Crittall-Hope Nigeria Limited is one of the very few companies that is entirely equity
financed and has been like that for over forty years of its existence. This study revealed
that an organisation can survive without borrowing and also that there are other equally
important factors aside from finance that determines survival. Among those factors
revealed by this study are; the need for a continuous review of environmental changes
and formulation of appropriate strategic planning and budget, an establishment of
purposeful management information system, development of quality products that meets
customers’ specifications, desire etc., establishment of wide distribution network,
recruitment of the right types of personnel.
It is also note worth to mention that companies don’t just source for debt finance for the
sake of it, it is usually based on need. Where the operations do not require it a company
that still goes ahead to obtain debt will suddenly become over-capitalised and unable to
effectively utilized the excess finance at its disposal.
It must however be stressed that even all the other factors that determines or contribute to
survival of business organisations needs to be financed one way or the other.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
BUSINESS SURVIVAL WITHOUT BORROWING A STUDY OF CRITTALL – HOPE NIGERIA LTD
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