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Inclusive Markets and Enterprise Growth Through Public-Private Partnerships for Local Economic Development

Inclusive Markets and Enterprise Growth Through Public-Private Partnerships for Local Economic Development
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Author(s): Isaac Okoth Randa (Namibia University of Science and Technology, Namibia)
Copyright: 2020
Pages: 27
Source title: Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy
Source Author(s)/Editor(s): Neeta Baporikar (Namibia University of Science and Technology, Namibia & University of Pune, India)
DOI: 10.4018/978-1-7998-5116-5.ch024

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Abstract

Collaborative partnerships have become a source of hope in tackling complicated and complex societal issues such as underdevelopment facing many local authorities. Through public-private partnership (PPPs), remove interventions between the government, private organizations, and civil society, obstacles impeding business growth in these localities can be removed successfully. Whereas donor agencies and governments in developing countries increasingly propagate local economic development (LED), there are limited cases of LED success. Using an exploratory descriptive case study research design, this chapter explores the reasons why inclusive markets and enterprises' development are unsuccessful in Oshakati and Luderitz and why local authorities aimed at identifying suitable recommendations for improvement. The study concludes that entrepreneurs in Oshakati and Luderitz are unable to diversify and grow their business ideas to achieve inclusive markets due to lack of institutional support, access to finance, innovation, necessary expertise, and other necessary business support services.

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