Developing the local economy is crucial strategy to the advancement and the well-being of the community and business network in an area. It encourages partners from the community, public sector, private sector and non-governmental sectors to work collectively to create better conditions for economic growth and employment generation with the aim of improving the local economic future and the quality of life for all citizens.
The purpose of local development is to build the capacity of a defined area to improve its economic future and the quality of life for inhabitants. Local development makes an important contribution to national economic performance and has become more critical with increased global competition, population mobility, technological advancements, consequential spatial differences and addresses imbalances.
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 with which local economic strategy is pursued. This can also give rise to better diagnostic assessment of local economic assets and distinctive advantages, and lead to more robust strategy assessment.
Exploding urban populations, strains on inadequate and deteriorating physical facilities, roads and social pressures to expand service coverage are all increasing the demand for public services, shelter and infrastructure rehabilitation.
Local Economic Development is a process which encourages partners from the community, public sector, private sector and non-governmental sectors to work collectively to create better conditions for economic growth and employment generation with the aim of improving the locality economic future and the quality of life for all citizen
The Chamber plays a huge role in facilitating and driving the necessary change needed for economic transformation and livelihood restoration of the town. It becomes important for the entire community, business organisations and government departments to work collectively in ensuring the community advances and develops.
The Chamber of Commerce is then essential to the economic growth of the community in making, business introductions, facilitating projects, maintaining data on the areas served, enforcing economic climates and keeping abreast with pending development projects taking place to facilitate whether rehabilitation, land restoration and environmental services.
To be part of developing the economy local business is encouraged to join the Chamber which means an opportunity to grow in commerce and to participate in local economic development strategy is essential for the survival of a business.
The Witbank Chamber affords members the platform to engage in such matters and make more informed decisions about their business strategy and growth. The Chamber 2021 membership registration for membership is open. Visit at 22 Hofmeyer Street, Emalahleni or download the membership form online on our website.