1.1 Introduction
Point of sale (POS) refers to the place where a customer executes the payment for goods or services and where sales taxes may become payable. It can be in a physical store, where POS terminals and systems are used to process card payments or a virtual sales point such as a computer or mobile electronic device (Investopedia, 2021). POS systems saves money, provides productivity gains, and can cut down the amount of time you spend away from the primary focus of your business. This POS System Buyer's Guide will walk you through the process of evaluating multiple POS vendors and choosing the right system (Petee, 2005).
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitations of the Study and Definition of technical terms.
1.2 Background of Study
Nowadays, the use of POS system is not only available in business set ups but also in schools which have gone a long way in impacting schools. Point-of-sale (PoS) systems have always been around in many forms for a number of years now. Many businesses use these systems not only to accept payment, but to provide other operational information such as accounting, sales tracking, and inventory management. Thus far, this system has gone a long way in improving customer’s experience through customer loyalty programs and suggestions in businesses (Ojo, 2004).
To adequately appreciate how unemployment could be solved through the establishment of small scale business in Nigeria and in particular Enugu North Local Government Area of Enugu State. There arose the need for the initial attempt of defining unemployment? As well as small-scale business and inter worse both for our purpose.
Oxford dictionary of current English defined unemployment, as the state of being unemployed and the amount of unusual labour. Unemployment is also those people who are willing and able to work, but cannot find the job. On the other hand small-scale enterprise has been defined by many authors.
According to Ejiofor (2009), defined it as these enterprise that have relatively little capital investment that products small quantities and a result control of a small scale of the market, which management marketing and entrepreneurs functions are rested in the proprietor.
Also, according to Wolt Lawrence (1999), said that small scale industries is an industry, which is independently owned and operated and not dominated in its area of operation, also Druker P. F. 2000 maintains that there is only one critical things which, with a fair degree of reliability, industries whether a business is small, business requires at most one man who is not engaging any other functional work required. It is clean that same business man’s and stop generating employment and there by stimulating the economy. According to Yakass, (2000), over the years, there has been a controversy over the definition of small scale industry. The absence of universal acceptable definition has compounded the problems of many industrialists. The central Bank of Nigeria definition of small scale over, does not exceed N500,000.00 for commercial bank or capital investment not N2 million and turn over up to million merchant banks. The Nerfund (National Economic Reconstruction Fund) defines a small scale operation, as the medium scale enterprises is any business that requirement between N5 million and N10 million also excluding land to start up.
The Federal ministry of industries defines small scale industries as a manufacturing, processing or serving enterprise, who capital investment does not exceed N25,000 in machinery and equipment only.
The definition is to lay down the parameter under which and industrialist may take advantages, various incentive created by government for the growth of the small-scale industries, such machinery equipment and raw materials. The important of small scale industries to the survival of the nation economy are no longer by wares. They have moved from the subsistence level of the pre-indigenization period to a position of importance in the country industrial process. Therefore, the authorities should not relent on the efforts of making small scale industries assume their role in the economy.
Therefore, in Jalingo Metropolis where the research was carried out, the activities that was conducted is to investigate the Effect of Point of Sales (POS) on the Growth of other Banking Sector.
1.3 Statement of Problems
In the present day, Nigeria society has been afflicted with very serious unemployment problems. This account largely for the social ills that have been devilled, the country today such as, obtaining by false, pretences or advance fees found more popularity known “as 419” robbery, bribery and corruption and other vices. It is commonly knowledge that graduates produced by various institution of higher learning and other highly skilled professional hardly ever find suitable employment opportunity in Nigeria today. Youth coopers for instance on passing out, rooming the street in searching of job or employment.
However, despite the general increase in the adoption of e-payment system, the rate and use of POS is relatively low when compared to the rest of e-payment platforms. Customers who prefer to use the POS find it difficult because most POS are not loaded with cash making them to travel from one POS to another. Merchants with POS terminals still prefer cash payment as this is the most frequently used payment option.
1.4 Aim and Objectives of Study
The aim of the study is to identify the extent to which small scale enterprise in solving unemployment problem in Enugu North Local Government Area. In achieving this aim, the following specific objectives were laid out as follows:
- To find out the extent establishment of small scale business helped in solving the problem of unemployment in Enugu North.
- To find out the extent employment provision resulting from the establishment of small scale actually affected the standard living of the people
- To find out the extent establishment of small scale business assisted in mitigating the high level of social vices in Enugu North.
1.5 Research Questions
The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:
- Has the establishment of small scale business helped in solving the problem of unemployment in Enugu North Local Government Area?
- Has the employment provision resulting from the establishment of small scale actually affected the standard living of the people?
- Has the establishment of small scale business assisted in mitigating the high level of social vices in Enugu North?
- What are the perceived obstacles inherent with the implementation of POS payment system?
- What are the solutions to the identified obstacles in the implementation of the system?
