private sectorprivate sector
The part of the economy that is controlled by individuals or private organizations and is not funded by the government.
(plural private sectors)
- (business) All organizations in an economy or jurisdiction that are not controlled by government, including privately owned businesses and not-for-profit organizations.
- After spending two decades at various government agencies, he returned to the private sector and took a job as a business consultant.
- (business): public sector
- Of or pertaining to the private sector.