private enterprise

Definitions

Business or industry that is managed by independent companies or individuals rather than by the government.

The sector of an economy consisting of businesses owned and operated for profit by private individuals or groups.

Examples

The government decided to sell the state-owned railway to private enterprise in an effort to improve efficiency.

Innovation often flourishes in a climate where private enterprise is encouraged and supported by fair regulations.

Synonyms

free enterprise private sector capitalism commercial business market economy

Antonyms

public sector state ownership government enterprise nationalized industry public ownership