Digital Business in the 21st Century

1. Private, Public, Voluntary sectors
Ellen McQuade

2. What is the private sector?
• Private sectors include business privately owned by a group of business (known as
a board) or by an individual known as a founder. Their sole purpose is to create a
successful profit for shareholders and owners. E.g. Blenheim Chalcot is
Contentive’s Parent company.
• Sole Traders – These are businesses that are set up and run by one individual who
are usually self-employed and therefore able to take ownership of any profits
generated. Sole traders are then able to employ staff to help run their business, an
example of a sole trader could be a small local coffee shop.
• Partnership – These are businesses shared between one or two individuals who
share both management and profits.
• Private and public limited companies – Private limited companies are
organisations that are set up to run a business. It has separate finances, meaning
any profits made is owned by the company after tax. Limited companies will often
have ‘’members’’ or ‘’board members’’ who are the people that have shares in the
company. Public limited companies are companies whose shares are traded
publicly on a market.

3. What is the public sector?
• Public sector businesses and organisations are controlled by the government and
are state owned by all members of the public. The aim is to generate and serve the
public and not to make profit.
• For example Social services, Leisure centres and NHS.
• Social Services – These organisations will be providing care for children and young
people. The service can sometimes be free and compulsory for kids living with
abusive or alcoholic parents/carers, or if the parent/carer is sick and needs to be in
care. This allows the organisation to be free and runs on local council basis.
Meaning all local councils have the responsibility over the given area.
• Leisure centres – These are maintained and run by local council’s, However leisure
centres are generally free to use by the public, although the council may impose a
small fee usually £3 - £5 for a swimming session. Which is done so the local area
and environment around leisure centres can be generated.

4. What is the voluntary sector?
• The voluntary sector is where organisations may receive grants or funding by
governing bodies and providing services to communities without making profit.
For example the Princes Trust is a public fun raising sector.
• Princes Trust – Is a charity which helps young adults with a range of training
programmes and activities. Which leads onto mentoring and supporting ambitious
young people in their dream’s with financial grants for disadvantage people. Many
famous organisations and celebrities will support the Prince’s Trust , and help and
build young adult’s to have a positive outcome in what they desire to do.