Focus on the pronunciation of private business
English definition of “private business”
› [C] FINANCE a company that is owned by one person or a small group of people, for example a family, and whose shares are not traded on a stock market: Many of these small private businesses employ fewer than ten people.
› [C] ECONOMICS a company that is not owned by the government: private and state-owned businesses
› [U] ECONOMICS all the companies that are owned and controlled by one person or a small group of people, considered as a whole: The public sector continues to dominate the country's economy, while an increasing number of restrictions are imposed on private business.