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Meaning of “private business” in the English Dictionary

"private business" in Business English

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private businessnoun

uk   us  
[C] FINANCE a ​company that is ​owned by one ​person or a ​smallgroup of ​people, for ​example a family, and whose ​shares are not ​traded on a ​stockmarket: Many of these ​smallprivatebusinessesemploy 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 ​smallgroup of ​people, considered as a whole: The ​publicsector continues to ​dominate the country's ​economy, while an ​increasingnumber of ​restrictions are ​imposed on ​privatebusiness.
(Definition of private business from the Cambridge Business English Dictionary © Cambridge University Press)
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“private business” in Business English

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