Urban areas are complex and dynamic spaces. They reflect many processes of physical, social, environmental and economic transition. As they are the main sources of  employment, negative changes in economic structure have direct impacts upon the rise of unemployment,  impoverishment, thus social stress in cities. Not only the developing countries but also the advanced countries have  been experiencing economic recession, thus the central or local governments try to develop different local economic  development strategies considering the special potentials and the problems of the cities so as to get over the economic problems. Promotion of entrepreneurship emerges as one of the most effective ways for economic regeneration at the local level. In this paper from a bottom-up view, Ankara, the capital of Turkey, will be analysed pertaining to the potentials for entrepreneurial development, and probable development  strategies with regard to economic regeneration will be stated.Key Words: Local economic development, Enterprise, Strategies, Ankara.