The document discusses the challenges and opportunities facing Local Enterprise Partnerships (LEPs) in the UK. It provides an overview of the remit and guidance given to LEPs, which includes being business-led and focusing on supporting local economic growth. Some key intrinsic challenges mentioned are a lack of direct funding, competition for other funding sources, and reliance on voluntary business leadership. The document then discusses the approach and initial work priorities of the Oxfordshire LEP, including addressing skills gaps, attracting inward investment, and developing key infrastructure projects. It closes by emphasizing the need for LEPs to focus their efforts and demonstrate value through early successes.