Public sector organisations are owned, controlled and managed by the government or other state-run bodies. Private sector organisations are owned, controlled and managed by individuals, groups or business entities.
What is the difference between government and private business?
Ownership. Individuals own private-sector businesses. For example, an individual or group of individuals might own a sole proprietorship or LLC, while shareholders own corporations. Governmental agencies aren't owned by individuals; they are “owned” by and operate on behalf of the public.
Individuals own private-sector businesses. For example, an individual or group of individuals might own a sole proprietorship or LLC, while shareholders own corporations. Governmental agencies aren't owned by individuals; they are “owned” by and operate on behalf of the public.
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Public sector organisations are owned, controlled and managed by the government or other state-run bodies. Private sector organisations are owned, controlled and managed by individuals, groups or business entities.
What is the difference between government and private business?
Ownership. Individuals own private-sector businesses. For example, an individual or group of individuals might own a sole proprietorship or LLC, while shareholders own corporations. Governmental agencies aren't owned by individuals; they are “owned” by and operate on behalf of the public.
Answer:
Individuals own private-sector businesses. For example, an individual or group of individuals might own a sole proprietorship or LLC, while shareholders own corporations. Governmental agencies aren't owned by individuals; they are “owned” by and operate on behalf of the public.