Sector Profile: Private Sector

 

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An overview of the private sector:

The private sector is the part of the economy that is run by private individuals or groups, usually as a means of enterprises for profit. This sector is not controlled by the state. 

Our Career Map profile for the private sector includes:

 


What types of organisations operate in the private sector?

The main type of organisations in the private sector in the UK are:

  • sole traders
  • partnerships
  • companies
  • and franchises.

The sole trader is the most common form of business ownership and is found in a wide range of industries.

Organisations in the private sector are any business registered and operating with the aim of making a profit.  Examples of these businesses include, but are not limited to:

  • retail stores
  • manufacturers
  • logistics and transport operations
  • trades
  • and financial services.

 

What sorts of job opportunities are there in the private sector?

There are a variety of roles at differing levels and requiring a multitude of skills continually available within the private sector.

These positions have a focus on profitability, sales figures and a strategic goal.

 

Is the private sector particularly competitive?

Yes, this sector is competitive regarding recruitment processes and also regarding operation.

As a rule of thumb, the more recognisable the brand and the more reputable the employer, the more competitive the role you are applying for will be. 

 

What benefits are there to working in the private sector?

Generally working in the private sector gives you a variety of progression opportunities alongside exposure to varied tasks, team structures and projects.

Change can happen quickly and you usually have more opportunity for autonomy and innovation.

 

What three things should applicants keep in mind when applying for a job in the private sector?

  1. Be prepared and know the business:
  • What sets them aside from their competitors?
  • Why do you want to work for them?
  1. Be aware of what value you can add to their team. Consider how your transferable skills and experiences are relevant to the role you are applying for.
  2. Be able to think outside the box.