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local economic development

What is Local Economic Development (LED)

 

LED means different things to different people. LED can include various initiatives. Some are
specifically designed to help poor people directly. Some create support for economic growth in the
municipality or district.
Examples are:
• supporting micro enterprises (run by one or two persons)
• supporting small business development
• providing skill training
• encouraging domestic or foreign investment by providing infrastructure – like good roads, or reducing crime
• providing municipal services, such as transport, education or regulations, which support LED.

In truth, it may involve all such activities and more, depending on the particular needs of the region. BUT one thing common to LED is the evidence that success relies on representatives of the public, private, NGO (non-government organisations) and community sectors working together to make a difference.

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