Private sector
The private sector comprises organisations outside government ownership or control under the relevant classification. It includes many commercial businesses and can also include privately controlled not-for-profit bodies. It is a sector classification rather than a company-law label. A company whose shares are publicly traded can still belong to the private sector.
Worked example
A privately controlled listed retailer belongs to the private sector despite being a public company in company-law terminology. A government-controlled body requires assessment under the applicable sector rules.
Common mistake
Do not confuse private sector with private limited company or assume that public company means government-owned. Check the classification and actual control.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Direct | September 2026–June 2027 |
| ACCA | SBL | Direct | September 2026–June 2027 |
| FIA | FBT | Direct | September 2026–June 2027 |