Capital Investment Turnover and Implication on Regional Development Planning by Small Scale Industries in Ondo State
Afolabi Francis Fatusin

Abstract
Capital in developing countries is a major hindrance to investment, and this accounts for the reason low budget small scale industrial enterprises thrive in many third world countries. This study analysed the structure of capital resources available for investment, turnover and their implication on regional development of Ondo state. The study made use of 353 enterprises whose owners were interviewed. The data collected were analysed using descriptive means. The study discovered that small scale industries in the study area have exceedingly low capital base Over half of proprietors invested less than 50,000 or $322 in their plants and about 27% invested an average of 75 000 or $484. Moreover the study established that the higher the funds invested the more tendencies the plant is located in the urban area of the state and vice versa. The study also established that the major source of capital investment is through personal savings (55.8%) followed by capital obtained from family members which stood at 15% of all proprietors. Turnover of small scale enterprises were also small. About 39% of enterprises had turnover of less than 100,000 or $645 per year. The study establish that these were not enough to create enough capital base for sustainable regional development using small scale industries as in many countries of the world.

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