Private 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.

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. The values of the private sector are to provide excellent equipment for their customers and excellent customer service.

Employment :The private sector employs the majority of the workforce in some countries] However, in some countries such as the People's Republic of China, the public sector employs most of the workers.

What constitutes the voluntary sector may be interpreted widely or narrowly, and may include such diverse groups as advocacy/interest groups, think tanks, social movements, political parties, charitable organizations, volunteer community organisations, and religious organizations.