PERFORMANCE OF THE ECONOMY: WHAT IS
A HEALTHY/VIBRANT ECONOMY? Local and regional economies need to perform well to contribute to reduced
poverty. Healthy and vibrant local economies are typically evident from characteristics
such as: o
Growth in Trade, Value added and
Exports o
Growth in Investment from the Private
Sector and from
the Public Sector o
Growth in the number of Enterprise start-ups, survival rates and
growth o
Increased Competition and
Rivalry These
factors are therefore desirable outcomes/result/goals, which LED aims to contribute
towards. LED stakeholders need to be clear and in agreement about these goals
failing which the merit of intervention work cannot be determined. Sound LED initiatives
cannot be distinguished from wasteful LED initiatives. Understanding clearly what
the desired economic performance goals and criteria are, is therefore key to subsequent
prioritisation of LED activities and allocation of resources. Understanding
the current performance levels and trends, provides invaluable insight into which
parts of the economy are currently working well, driving growth and this may also
point to further development opportunities. | 
