Business Sectors

Business sectors and legal structures for organisations

Private Sector

The private sector is made up of private organizations. This means that they are not owned by or part of the government. Private sectors have a goal of overtaking their competitors and maximising their profit. Examples of private sector organisations are; small businesses, charitable organizations, non-government run banks and local businesses.

Public Sector

The public sector is composed of organizations which are owned and operated by the government. Any institution which is associated with health care, police services, military, public education and both local and central government management are part of the public sector. The public sector is the part of the economy concerned with providing various government services to the public and are not competing with other institutions for profit.

Voluntary Sector

The voluntary sector is generally made up of two groups: charities and non-profit making organisations. Organisations in this sector exist in order to benefit the public or specific groups within society. Many positions in this sector are salaried but a significant number of volunteer posts also exist. They may use similar methods to attract their customers as they are competing between themselves.