The Role of Social Enterprise in Local Economic Development

Arguing that “there is no escape from self-help!” and that and the basic principle of LED is “Local Work for Local People using Local Resources”, the author expresses the view that LED is definitely much more than just “economic development at local level” 

Neither is it:

1. "development from above" in which the state runs the whole show and local authorities wait for decisions and resources coming from above; nor 
2. “development from outside” which often follows the breakdown of the first option (state omnipotence) and in which local actors believe they cannot do anything on their own as only outside “investors” can. Here sit most of the so-called “undeveloped” aka developing world; nor 
3. “wait and see” whereby local actors remain more or less passive waiting for things to come and in the process seeking escape roads such as immigration. 

Rather it is:

 (4) “development from within” which starts when the local community itself reclaims agency over its destiny and muster the determination to act. In this perspective, the author argues, social enterprises play a key role in restructuring local economies.