Private enterprise | Wikipedia audio article
Channel: wikipedia tts
Date: 03/01/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Privately_held_company


00:01:44 1 State ownership vs. private ownership
00:02:31 2 Ownership of stock
00:03:56 3 Form of organization
00:05:23 4 Reporting obligations and restrictions
00:08:42 5 Privately owned enterprise
00:10:09 5.1 Types of privately owned business
00:12:00 6 See also



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SUMMARY
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A privately held company, private company, or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock (shares) to the general public on the stock market exchanges, but rather the company's stock is offered, owned and traded or exchanged privately.  More ambiguous terms for a privately held company are closely held corporation, unquoted company, and unlisted company.
Though less visible than their publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 largest private companies in the United States accounted for US$1,800,000,000,000 ($1.8 trillion) in revenues and employed 6.2 million people, according to Forbes. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on Forbes' survey of  closely held U.S. businesses sold a trillion dollars' worth of goods and services (44%) and employed 4 million people. In 2004, the Forbes' count of privately held U.S. businesses with at least $1 billion in revenue was 305.