Private sector

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)

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.

Legal status

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.

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.

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]

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

See also

Economics portal

• Free enterprise
• Private enterprise
• Private law
• Company law

References