Abstract
Besides local economic development (LED) theories, especially LED practices have a growing importance nowadays. By a primary research involving more than 400 actors (local governments, local entrepreneurs, local agencies), the necessary competencies, practical experiences, and the field of further skills and extension concerning cooperation in economic development of localities were analysed. Summing up the research results, both local governments and local entrepreneurs have certain lack of competence that has to be improved, while the need of this exercise (and LED as a whole) for an appropriate financial background and a national strategy/policy is well-emphasized by the answers of the actors.