It originally developed as a mill village in the valley of the Clarkhill and Ballybannon rivers. Most people look beyond the village to neighbouring Castlewellan for the majority of their local services. The village contains a Post Office and shop and a playing field. Annsborough Controlled Integrated Primary School was opened in 1997. A variety of light industrial and commercial uses provide small scale local employment within former textile mill buildings in the centre of the village.