Local Economic Development refers to the process of improving the economic conditions of the districts and rural communities.


CONTRIBUTION OF ENTERPRISES TO LOCAL ECONOMIC DEVELOPMENT
  1. Establishment of modern infrastructure
  2. Provision of employment opportunities
  3. Provision of essential goods and services
  4. Effective use of local resources
  5. Payment of taxes
  6. It helps to control migration

CHALLENGES FACED BY LOCAL ENTERPRISES
  1. Unreliable power supply
  2. High cost of energy
  3. Unfair competition
  4. Poor patronage of local goods or products
  5. Workers' poor attitude to work
  6. Cedi depreciation
  7. Lack of access to credit

Trial Questions:
1. Define local economic development

2. Outline five contributions of private enterprise to the economic development in Ghana

3. Discuss four challenges confronting private enterprises in Ghana