difference between public and private sector business
Difference between Public and Private Sector. The major difference between the public and private sector is their motive to exist. The public sector is present to cater to the citizens of a country and profit motive is generally not the criteria for them to exist. The private sector firms on the other hand base their existence on making profits.
The public sector is run on the money collected by the general public through taxes, which is the income for the public sector. They are also run on state loans. Private sector companies are run by the capital input made by individuals or by share owners.