IMPACT OF POS BUSINESS IN REDUCING UNEMPLOYMENT RATE IN DELTA STATE
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IMPACT OF POS BUSINESS IN REDUCING UNEMPLOYMENT RATE IN DELTA STATE
CHAPITER 1
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The ViewTouch touch-screen user interface by Gene Mosher and the first Windows-based POS system (IT Retail) created by Martin Goodwin and Bob Henry are considered to be the forerunners of modern point-of-sale systems.
The POS systems of today give business owners the option to select between traditional counter-top systems and interactive setups that let them manage every aspect of their POS operations online. They can access their POS systems while on the go using a smart phone link as well.
A point of sale (POS) is a tool that lets you sell actual goods in a grocery store. In a supermarket, the POS is where customers pay their bills, process their orders and check out.A POS System is the collective name for the hardware and software system used for billing in a POS Store.
It usually includes the following hardware units for displaying the order number, product weight, and other information, as well as additional hardware units for scanning product bar-codes, a receipt printer, and a cash register.Today’s POS systems must have card readers as a basic component.
Now everything is on the “internet.” Retailers were also motivated by this to enhance their point-of-sale systems. It’s no longer sufficient for POS programmes to only promote cash, credit, debit, or gift card transactions any longer due to too many consumers reaching for their phones to pay for goods and use retail membership discounts and coupons.
POS software today is intended to perform a lot more tasks than just handling transactions. This is why companies like Clover developed highly efficient and technically sophisticated point-of-sale systems that can track employee activity and inventory, distribute invoices, provide real-time reports, operate even when the internet is down, and give retailers simple-to-use applications.
STATEMENT OF THE PROBLEM
The definitions and usage of the term “unemployment” appear to be in agreement. Udu and Agu (2005) defined unemployment as “a condition in which people who are competent and willing to work are unable to find suitable paying work.”
When people accept jobs that are incompatible with or beneath their educational background or areas of expertise, unemployment may also result. For example, a first- or second-degree holder who enlists as a recruit into any of the armed services or paramilitary or a degree holder working as a clerk in an office is significantly underutilised and as such could be deemed to be unemployed even though such person is on the job.
It is impossible to overstate the effects of Nigeria’s high unemployment rate. Although there is no reliable assessment of the unemployment rate, its magnitude is unquestionably out of the ordinary.
The high rate of unemployment in Nigeria was discovered to be caused by a number of factors, including corruption, poor governance, a lack of infrastructure services, a lack of human capital growth, an ineffective educational system, neglect of agriculture, the effects of globalisation, among others.
Running a POS business is a legitimate way to make money in Nigeria. Where there are no deposits and there aren’t enough ATMs to cover the community’s financial demands, it’s more profitable. Because it is an expansion to financial institutions’ facilities that enables prompt service delivery to a wide range of clients, it is also known as agent banking.
Businesses that use point-of-sale (POS) systems provide services like money transfers and withdrawals, airtime sales, bill payments for GOTV, DSTV, Startimes, PHCN, and other utility bills. It can be found in a wide range of establishments, including department stores, malls, petrol stations, hospitals, and restaurants, where goods and services are produced or sold.
This POS company has helped people and business owners by enabling financial transfers in a number of locations, which has decreased unemployment and provided them with extra money.
1.3 OBJECTIVES OF THE STUDY
To evaluate how POS business will affect unemployment.
To determine whether small businesses in Nigeria are using POS III. to determine whether POS businesses in Nigeria reduced unemployment.
1.4 RESEARCH QUESTIONS
I. Does POS activity have an impact on jobs in Nigeria?
II. Utilise POS in Nigeria’s small businesses?
III. Has the POS industry reduced unemployment?
1.5 RELATIONSHIP TO OTHER STUDIES
This research’s importance lies in its potential to be useful to other academics, thinkers, and students who might desire to plan comparable research.
1.6 SCOPE OF THE STUDY
This study was conducted in Lokoja, Kogi state, and it focuses on the impact of POS businesses on unemployment in Nigeria.
1.7 LIMITATIONS OF THE STUDY
When conducting the study, the researcher faced numerous difficulties, including a lack of resources and time constraints.
1.8 DEFINITION OF TERMS
POS: In order to take credit cards at a retail location, you need a point-of-sale terminal (POS). Software for reading magnetic strips from credit and debit cards is part of the hardware.
Unemployment is a term used to describe persons who are actively seeking job but are unable to do so. This group includes many people who are employed but are not in the appropriate positions.
BUSINESS: An organisation or enterprising person involved in commercial, industrial, or technological operations is referred to as a business. Businesses can be for-profit enterprises or nonprofit groups that promote a social purpose or a philanthropic activity.
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