private business
nounDefinition
› [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.
(Definition of private business noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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