ETD Collection

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Author: search.filters.author.Baduza, Unathi NkosanaSubject: search.filters.subject.Community development--South Africa

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    Impact of local economic development framework policy on entrepreneurship development and performance in the City of Johannesburg Metropolitan Municipality
    (2019) Baduza, Unathi Nkosana
    This study investigated the performance of the Local Economic Development Framework Policy with regard to the impact on Entrepreneurship development and performance in the City of Johannesburg Metropolitan Municipality. This study sought to understand and explore the effect of the Local Economic Development framework on entrepreneurial development and performance in the City of Johannesburg Metropolitan Municipality. Local Economic Development (LED) has been identified in the City of Johannesburg Metropolitan Municipality as one of the key developmental options available for the municipality. This paper used empirical research to conduct the investigation of the hypothesised relationship between two constructs, i.e. Local Economic Development Framework and Entrepreneurial Performance. An analysis by testing the hypotheses that predict the relationships of the variables was undertaken through various statistical models. The purpose of local economic development (LED) is to build the economic capacity of a local area to improve its economic future and the quality of life for all. It is a process by which public, business and non-governmental sector partners work collectively to create better conditions for economic growth to stimulate entrepreneurial drive and create employment generation. Strategically planned local economic development (LED) is increasingly used by communities to strengthen the local economic capacity of an area, improve the investment climate, and increase the productivity and competitiveness of local businesses, entrepreneurs and workers. The ability of communities to improve the quality of life, create new economic opportunities and fight poverty depends upon them being able to understand the processes of LED, and act strategically in the changing and increasingly competitive market economy. Municipal government has an essential role to play in creating a favourable environment for business development and success. By its nature, local economic development is a partnership between the business sector, community interests and municipal government. LED is usually strategically planned by local government in conjunction with public and private sector partners. Implementation is carried out by the public, private and non-governmental sectors according to their abilities and strengths.