Private sector
From Wikipedia, the free encyclopedia
 |
This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (April 2009) |
| Economic sectors |
| Three-sector hypothesis |
|---|
| Colin Clark |
| Jean Fourastié |
| Primary sector (raw materials) |
| Secondary sector (manufacturing) |
| Tertiary sector (services) |
| Others suggested |
| Quaternary sector |
| Quinary sector |
| By ownership |
| Public sector |
| Private sector |
| Business sector |
| Voluntary sector |
In economics, the private sector is that part of the economy which is both run for private profit and is not controlled by the state. By contrast, enterprises that are part of the state are part of the public sector; private, non-profit organizations are regarded as part of the voluntary sector.
Contents |
[edit] Legal status
 |
The examples and perspective in this section may not represent a worldwide view of the subject. Please improve this article and discuss the issue on the talk page. (December 2009) |
 |
This section is in need of attention from an expert on the subject. WikiProject Business or the Business Portal may be able to help recruit one. (December 2009) |
A variety of legal structures exist for private sector business organizations, depending on the jurisdiction in which they have their legal domicile. Individuals can conduct business without necessarily being part of any organization.
The main types of businesses in the private sector are:
- Sole trader
- Partnership, either limited or unlimited liability
- Private Limited Company or LTD-limited liability, with private shares
- Public Limited Company – shares are open to the public. Two examples are:
- Franchise – business owner pays a corporation to use their name, receives spec for the business
- Workers cooperative – all workers have equal pay, and make joint business decisions
In countries where the private sector is regulated or even forbidden, some types of private business continue to operate within them.
The private sector focuses on the needs of the shareholders.
[edit] Employment
The private sector employs the majority of the workforce in some countries.[citation needed] However, in some countries such as the People's Republic of China, the public sector employs most of the workers. [1]
[edit] Statistical organizations
- Eurostat
- United Nations Statistics Division [1]
- UNESCO Institute for Statistics [2]
- OECD Statistics Division [3]
- PARIS21 [4]
- International Association for Official Statistics (IAOS) [5], a section of the ISI [6]
- Worldwide statistical sources
[edit] See also
[edit] References
- ^ Joe Zhang. "China’s private sector in shadow of the state". ft.com. http://news.ft.com/cms/s/efebf320-34ff-11da-9e12-00000e2511c8.html. Retrieved 2007-07-06.
