Private Business
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Private Business
From Wikipedia, the free encyclopedia
This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed. Find sources: "Privately held company" – news · newspapers · books · scholar · JSTOR ( January 2021 ) ( Learn how and when to remove this template message )
^ Reifman, Shlomo; Murphy, Andrea D., eds. (6 November 2008). "America's Largest Private Companies" . Forbes .
^ Loewen, Jacoline (2008). Money Magnet: Attract Investors to Your Business . Canada: John Wiley & Sons . ISBN 9780470155752 .
^ "Introduction to Private Companies" . Private Company Knowledge Bank . PrivCo.
^ "Private Company Research" . Business Reference Services . Library of Congress . 10 Jan 2013.
^ "Sageworks Private Company Data" . Fox Business Network . 1 Feb 2012. Archived from the original on 2015-10-29.
A privately held company , private company , or close corporation is a corporation that is not owned by the government, non-governmental organizations and 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 or over-the-counter . 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 four million people. In 2004, the Forbes count of privately held U.S. businesses with at least $1 billion in revenue was 305. [1]
Private ownership of productive assets differs from state ownership or collective ownership (as in worker-owned companies). This usage is often found in former communist countries to differentiate from former state-owned enterprises , [ citation needed ] but it may be used anywhere when contrasting to a state-owned or a collectively owned company.
In the United States, the term privately held company is more often used to describe for-profit enterprises whose shares are not traded on the stock market.
In countries with public trading markets, a privately held business is generally taken to mean one whose ownership shares or interests are not publicly traded . Often, privately held companies are owned by the company founders or their families and heirs or by a small group of investors. Sometimes employees also hold shares of private companies. [2] [ page needed ] Most small businesses are privately held.
Subsidiaries and joint ventures of publicly traded companies (for example, General Motors ' Saturn Corporation ), unless shares in the subsidiary itself are traded directly, have characteristics of both privately held companies and publicly traded companies. Such companies are usually subject to the same reporting requirements as privately held companies, but their assets, liabilities, and activities are also included in the reports of their parent companies, as required by the accountancy and securities industry rules relating to groups of companies.
Private companies may be called corporations , limited companies , limited liability companies , unlimited companies , or other names, depending on where and how they are organized and structured. In the United States, but not generally in the United Kingdom, the term is also extended to partnerships , sole proprietorships or business trusts. Each of these categories may have additional requirements and restrictions that may impact reporting requirements, income tax liabilities, governmental obligations, employee relations, marketing opportunities, and other business obligations and decisions.
In many countries, there are forms of organization which are restricted to and are commonly used by private companies, for example, the private company limited by shares in the United Kingdom (abbreviated Ltd ) or unlimited company and the proprietary limited company (abbreviated Pty Ltd ) or unlimited proprietary company (abbreviated Pty ) in South Africa and Australia.
Privately held companies generally have fewer or less comprehensive reporting requirements and obligations for transparency , via annual reports, etc. than publicly traded companies do. For example, in the United States, unlike in Europe [ where? ] , privately held companies are not generally required to publish their financial statements . By not being required to disclose details about their operations and financial outlook, private companies are not forced to disclose information that may potentially be valuable to competitors and can avoid the immediate erosion of customer and stakeholder confidence in the event of financial duress. Further, with limited reporting requirements and shareholder expectations, private firms are afforded a greater operational flexibility by being able to focus on long-term growth rather than quarterly earnings. In addition, private company executives may steer their ships without shareholder approval, allowing them to take significant action without delays. [3] [4] In Australia, Part 2E of the Corporations Act 2001 requires that publicly traded companies file certain documents relating to their annual general meeting with the Australian Securities and Investments Commission . There is a similar requirement for large proprietary companies, which are required to lodge Form 388H to the ASIC containing their financial report. In the United States, private companies are held to different accounting auditing standards than are public companies, overseen by the Private Company Counsel division of FASB . (see external links )
Researching private companies and private companies' financials in the United States can involve contacting the Secretary of State for the state of incorporation (or for LLC or partnership, state of formation), or using specialized private company databases such as Dun & Bradstreet . Other companies, like Sageworks , provide aggregated data on privately held companies, segmented by industry code. [5]
Privately held companies also sometimes have restrictions on how many shareholders they may have. For example, the U.S. Securities Exchange Act of 1934 , section 12(g), limits a privately held company, generally, to fewer than 2000 shareholders, and the U.S. Investment Company Act of 1940 , requires registration of investment companies that have more than 100 holders. In Australia, section 113 of the Corporations Act 2001 limits a privately held company to fifty non-employee shareholders.
A privately owned enterprise is a commercial enterprise that is owned by private investors, shareholders or owners (usually collectively , but they can be owned by a single individual ), and is in contrast to state institutions, such as publicly owned enterprises and government agencies . Private enterprises comprise the private sector of an economy. An economic system that 1) contains a large private sector where privately run businesses are the backbone of the economy, and 2) business surplus is controlled by the owners, is referred to as capitalism . This contrasts with socialism , where industry is owned by the state or by all of the community in common. The act of taking assets into the private sector is referred to as privatization .
A privately owned enterprise is one form that private property may take.
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PRIVATE BUSINESS | meaning in the Cambridge English Dictionary
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private business - это... Что такое private business ?
Private business по Русский, перевод, Английский-Русский Словарь
Private Company Definition
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Все языки Абхазский Адыгейский Африкаанс Айнский язык Алтайский Арабский Аварский Аймара Азербайджанский Башкирский Белорусский Болгарский Каталанский Чеченский Чаморро Шорский Чероки Чешский Крымскотатарский Церковнославянский (Старославянский) Чувашский Датский Немецкий Греческий Английский Эсперанто Испанский Эстонский Баскский Эвенкийский Персидский Финский Фарерский Французский Ирландский Галисийский Клингонский Эльзасский Иврит Хинди Хорватский Гаитянский Венгерский Армянский Индонезийский Ингушский Исландский Итальянский Ижорский Японский Ложбан Грузинский Карачаевский Казахский Кхмерский Корейский Кумыкский Курдский Латинский Лингала Литовский Латышский Мокшанский Маори Марийский Македонский Монгольский Малайский Мальтийский Майя Эрзянский Нидерландский Норвежский Осетинский Пенджабский Пали Польский Папьяменто Древнерусский язык Пушту Португальский Кечуа Квенья Румынский, Молдавский Русский Якутский Словацкий Словенский Албанский Сербский Шведский Суахили Тамильский Таджикский Тайский Туркменский Тагальский Турецкий Татарский Удмурдский Уйгурский Украинский Урду Урумский Узбекский Водский Вьетнамский Вепсский Идиш Йоруба Китайский
2 ) эк . частное предприятие , предприятие частного сектора ( предприятие , организованное и финансируемое частными лицами , в отличие от государственного предприятия )
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private business — UK US noun ► [ C ] FINANCE a company that is owned by one person or a small group of people , for example a family , and whose shares are not traded on a stock market: » Many of these small private businesses employ fewer than ten people . ► [ C ]… … Financial and business terms
Network of Private Business Organizations — Das Network of Private Business Organizations , seit 2008 unter der Bezeichnung International Counterparts Network ist ein informeller Zusammenschluss von wirtschaftsnahen Organisationen und Forschungseinrichtungen aus Europa , Amerika , Australien … … Deutsch Wikipedia
his private business — his personal affairs , his private concerns , his personal matters … English contemporary dictionary
private matters — private issues , private business , personal matters , secret affairs … English contemporary dictionary
Business ethics — For the episode from the American television series The Office , see Business Ethics ( The Office ). Business ethics ( also corporate ethics ) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical … … Wikipedia
Business Process Modeling Notation — The Business Process Modeling Notation ( BPMN ) is a standardized graphical notation for drawing business processes in a workflow . BPMN was developed by Business Process Management Initiative ( BPMI ), and is now being maintained by the Object … … Wikipedia
business organization — Introduction an entity formed for the purpose of carrying on commercial enterprise . Such an organization is predicated on systems of law governing contract and exchange , property rights , and incorporation . Business enterprises … … Universalium
Private sector — Economic sectors Three sector hypothesis Primary sector: raw materials Secondary sector: manu … Wikipedia
Private prison — Articleissues | article = 1 | globalize = August 2007 | tone = August 2007 | cleanup = January 2007 | pov = June 2008A private prison , jail , or detention center is a place in which individuals are physically confined or interned for profit . Private prison companies … … Wikipedia
business — Employment , occupation , profession , or commercial activity engaged in for gain or livelihood . Activity or enterprise for gain , benefit , advantage or livelihood . Union League Club v . Johnson , 18 Cal . 2d 275 , 108 P . 2d 487 , 490 . Enterprise in which … … Black ' s law dictionary
business — Employment , occupation , profession , or commercial activity engaged in for gain or livelihood . Activity or enterprise for gain , benefit , advantage or livelihood . Union League Club v . Johnson , 18 Cal . 2d 275 , 108 P . 2d 487 , 490 . Enterprise in which … … Black ' s law dictionary
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