PRIVATE SECTOR

PRIVATE SECTOR

• The private sector consists of business owned by individual or a group of individuals.

• The main motive of the private sector is to earn profit.

• After the industrial policy was framed and implemented in 1991, the private sector was given more freedom to operate.

features

1. They are owned and controlled by one individual.

2. They generally undertake activities that require limited capital investment.

3. The business is totally managed by the owners.

4. Government control on these organisation is very less.

5. Decision making is faster in the private sector as there is more flexibility.

6. 
   

Reference: -

https://en.wikipedia.org/wiki/Private_sector