private sector

Definitions

The part of a country's economy that is owned, managed, and controlled by individuals or private companies rather than the government.

Businesses and organizations that operate for profit and are not under direct state ownership or control.

Examples

The government is partnering with the private sector to improve the city's public transportation infrastructure.

Many graduates are choosing to pursue careers in the private sector due to the competitive salaries and benefits offered.

Synonyms

commercial sector business world corporate sector privately owned enterprises non-governmental sector

Antonyms

public sector government sector state-owned enterprises public services civil service