Public and Private enterprises

Private enterprises

• Businesses owned by private individuals or a group of individuals.
• Found under the private sector.
• Formed in order to make profit.
• Include sole traders, partnerships, private limited companies, multinational corporations and trade associations.

Public enterprises

• businesses organised and controlled by government on behalf of its citizens.
• Found under the public sector.
• Provide essential goods and services at competitive and affordable prices.
• Have no profit making motive.
• Include public corporations, (parastatals), local authorities and public utility corporations.

To access more topics go to the Commerce Notes page.