Private sector
The ‘private sector’ is the section of the national economy that is run by private individuals and businesses, usually as a means of enterprise for profit. It is distinguished from the ‘public sector’ which is run and controlled by the state, and from the ‘voluntary sector’ which is run by charities and non-profit organisations.
Although states do not control the private sector, they do produce legislation that regulates their practices and operation, set standards they are expected meet and develop policies that affect the business environment.
In the UK, approximately three-quarters of construction output is private sector and a quarter is public sector.
There have been several policy initiatives designed to encourage private sector involvement in large-scale public projects, such as the now-abandoned Private finance initiative (PFI), and Public Private Partnerships (PPPs). PPPs were first developed in the 1990s in the belief that private sector companies might be more efficient at providing certain services than public authorities and so could deliver better value for money for taxpayers.
[edit] Related articles on Designing Buildings Wiki
- Build lease transfer BLT.
- Business models in construction.
- Complex project.
- Construction organisations and strategy.
- Corporate finance.
- Design construct manage finance DCMF.
- Private rented sector PRS.
- Project-based funding.
- Property development finance.
- Public body.
- Public sector.
- Types of construction organisations.
- UK construction industry.
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
New, more proportionate and targeted approach for higher-risk building assessments.
Government brings British Steel into public ownership.
UKCW Birmingham returns with bold new theme and focus.
New guidance published on competence requirements for self-certification schemes.
Construction Management, 8 July
NEETs crisis drives interest in trades, but apprenticeships barriers remain.
Passive fire protection webinar
MEP services penetration seals.
Where its at podcast (and video) - The role of the Architectural Technologist as an Expert Witness.
More than 200 remarkable buildings added to SAVE’s Buildings at Risk register.
Government scraps pre-application consultation for Nationally Significant Infrastructure Projects.
Historic England and infrastructure
New projects offer opportunities for the historic environment and local communities.
Construction Management, 2 July
Construction deaths halve in two years.
Green Book changes to drive investment in all parts of UK.