ASSESSMENT OF THE IMPACT OF POS BUSINESSES IN REDUCING UNEMPLOYMENT RATE IN ASABA

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

The first POS systems originated in the late 1980s and early 1990s, with Gene Mosher's ViewTouch touch-screen gui and Martin Goodwin and Bob Henry's first Windows-based POS system (IT Retail).Today's POS systems empower merchants to choose between conventional counter-top systems and interactive configurations, in which they control all aspects of their POS operations through an online portal. They can also use a smart-phone link to access their POS systems when on the move. In a grocery store, a point of sale (POS) is a device that allows you to sell actual products. The checkout, order processing, and bill payment all take place at the POS in a supermarket. The overall hardware and software device used for billing in a POS Store is known as a POS System. It typically consists of the following hardware units for showing the order number, product weight, and other details, as well as other hardware units for scanning product bar-codes, a receipt printer, and a cash register. Card readers have now been an essential feature of today's POS systems.

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.

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 Asaba, Delta State where the research was carried out, the activities that was conducted is to investigate the Assessment of the Impact of POS Businesses in Reducing Unemployment Rate.

1.3 Statement of Problems

Investigation revealed that the consequences of Nigeria's high unemployment rate cannot be overstated. Though there is no accurate estimate of the unemployment rate, the reality of its magnitude is undeniable out of place. It was found out that corruption, lack of good governance, insufficient infrastructural services, lack of human capital growth, ineffective educational system, neglect of agriculture, the impact of globalization process, among other factors were responsible for the high rate of unemployment in Nigeria.

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. 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 assess the Impact of POS Businesses in Reducing Unemployment Rate using Asaba, Delta State as a case study. In achieving this aim, the following specific objectives were laid out as follows:

1. To assess the impact of POS business on unemployment in the area under study;
2. To know if POS is being used by small business in the area under study; and
3. To determine if POS business decreased unemployment in the area under study.

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:

• Does POS business affect employment in Nigeria?
• Do small businesses in Nigeria use POS?
• Have POS business decreased unemployment?
• Has the establishment of POS business helped in solving the problem of unemployment in the study area?

1.6 Research Hypothesis

In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.

Hypothesis One

• H0: POS business has not helped in solving the problem of unemployment in the area under study.
• H0: POS business has helped in solving the problem of unemployment in the area under study.

1.7 Significance of Study

This study will help to proffer solutions to the unemployment problems and the Nigeria society at large. It does applied that, if jobs could be provided for the unemployed, this could have a positive impact in the reduction of crime rate in our society also the basics standard of the people will be expected to be improve.

This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.

1.8 Scope of Study

The study focuses on the Assessment of the Impact of POS Businesses in Reducing Unemployment Rate. This research is delimited to the Asaba, Delta State in Nigeria and the unemployment level is also considering, which is seriously eradicated by the establishment of small scale business or industries.

1.9 Limitations of the Study

During the course of this study, many things militated against its completion, some of which are:

1. Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
2. Research material: availability of research material is a major setback to the scope of the study.
3. Frequent power failure: This made the researcher append more money on fuel to ensure sustainable power.
4. Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

1.10 Definition of Terms

POS: A point-of-sale terminal (POS) is a piece of hardware that allows you to accept credit cards at a shopping store. The hardware includes software that reads magnetic strips from credit and debit cards.

Unemployment: The state of being unemployed is one who have no job to do regardless his/her strength and qualification.