Assignment Task
Project title
Analysing the Role of Local Economic Development in Poverty Alleviation.
Introduction and Background
According to Khambule (2018), local economic development (LED) is concerned with an approach towards economic development. Thus, allowing and encouraging local people to work together to achieve sustainable economic growth and development. Premised on the preceding assertion, Meyer (2014) provides insight on the importance of local economic development stating that effective local development can reduce disparities between poor and rich places, add to the stock of locally generated jobs and firms, increase overall private sector investment, improve the information flows with investors and developers, and increase the coherence and confidence,
We need to know more about the state of LED in SA, unemployment and poverty as well…
There is a need to empirically analyse how local economic development is impacting on the process of poverty alleviation in municipalities, especially the eThekwini municipality and its surrounding areas.
Statement of the Problem
Local economic development (LED) is regarded as a solution for stimulating local economies with an intent to creating job openings and improve on poverty, especially among the formerly relegated communities in South Africa. Additionally, local economic development (LED) has been regarded as a key to the breakdown of various programmes of government to benefit most of the population (Trah 2007). Nothwistanding the noble intentions and high expectations of Local economic development (LED) initiatives to stimulate local economies and contribute towards job creation and poverty alleviation, in the case of the eThekwini municipality the outcomes have been relatively unsatisfactory, Hence the need for this study.
Research Questions · What are local economic development activities?
· What relationship exists between LED (local economic development) and poverty alleviation?
· What are the factors that hinder or facilitate the achievement of outcomes intended by local economic development activities?
· What recommendation would be effective on implementation of local economic development activities?
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