Browse Definitions :
Definition

private sector

Contributor(s): Ivy Wigmore

The private sector is the part of a country's economic system that is run by individuals and companies, rather than the government. Most private sector organizations are run with the intention of making profit. 

The segment of the economy under control of the government is known as the public sector. Charities and non-profit organizations are sometimes considered to make up a third segment, known as the volunteer sector. However, such organizations are more commonly considered part of the private sector. 

The private sector is larger in free enterprise economies, such as the United States, in which the government imposes relatively few restrictions on businesses. In countries with more government control, such as China, the public sector makes up the larger part of the economy. 

In many countries, there is considerable overlap between public and private sector industries. Examples of enterprises that are often run cooperatively include waste management, water management, health care and security services.

An industry or business may start out in one sector and move to the other. The act of turning a publicly-run enterprise over to private citizens is known as privatization. The opposite movement, from private to public, is known by various names, including nationalization or municipalization, depending on the level of government involved. 

This was last updated in August 2013

Continue Reading About private sector

Join the conversation

3 comments

Send me notifications when other members comment.

Please create a username to comment.

Cookie
Cancel
What is a citizen sector
Cancel
It's a term that an author named Bill Drayton coined.  Some people call it the maker movement. https://searcherp.techtarget.com/definition/maker-movement


Cancel

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

  • privacy compliance

    Privacy compliance is a company's accordance with established personal information protection guidelines, specifications or ...

  • data governance policy

    A data governance policy is a documented set of guidelines for ensuring that an organization's data and information assets are ...

SearchSecurity

SearchHealthIT

  • telemedicine (telehealth)

    Telemedicine is the remote delivery of healthcare services, such as health assessments or consultations, over the ...

  • Project Nightingale

    Project Nightingale is a controversial partnership between Google and Ascension, the second largest health system in the United ...

  • medical practice management (MPM) software

    Medical practice management (MPM) software is a collection of computerized services used by healthcare professionals and ...

SearchDisasterRecovery

SearchStorage

  • megabytes per second (MBps)

    Megabytes per second (MBps) is a unit of measurement for data transfer speed to and from a computer storage device.

  • zettabyte

    A zettabyte is a unit of measurement used by technology professionals and the general public to describe a computer or other ...

  • hybrid flash array

    A hybrid flash array is a solid-state storage system that contains a mix of flash memory drives and hard disk drives.

Close