Friday, 24th November 2017
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PRIVATE COMPANIES

A privately held company is one that is owned by non-governmental organisations, by a small number of shareholders or company members rather than the state.

The company does not offer or trade its company stock shares to the general public on the stock market, instead the stock is traded privately. They will require a huge amount of employees to create various departments and will deal with a whole range of jobs, often working on behalf of clients, either small companies or wealthy individuals.

Types of private companies:

  • Sole Proprietorship - a business owned by one person
  • Partnership - a business which has two or more people who are working towards the same goal of making a profit.
  • Corporation - a corporation is owned by multiple shareholders and is overseen by a board of directors.