Topic: The role of private sector involvement in Economic growth (Read 1112 times)

Is there actually a question in there or are you just stating the obvious? There is definitely an ongoing argument about what the government should have control over in many countries, because one downside with private companies is if they achieve a near monopoly or cartel type operation, then they can be very manipulative when it comes to pricing abuse. Look at railways for example, if they are moving either freight or passengers they can often be integral to the transportation plan for a country but private companies will often try to squeeze all customers as much as possible. On the alternative side, sometimes unions can try to bully publicly owned companies and push it too far, but politicians are too weak to stand up to them which can cripple a country.

Private sector refers to business owned and manege by individuals which are not government funded, private sector include business, companies, commercial banks etc which are owned and manege by private individuals who has nothing to do with government for the purpose of profit making

The role of private sector in developing the economy of any country is very crucial and important as the role of government in society is for protection of life and property and creating the right environment for business to strive
All over the world it's private sector that has helped the economy of nations, private sector involvement is needed for economic stabilization as government only can't do this alone

Private individuals are encouraged to start up business for the purpose of profit making in so doing they're in turn creating wealth
Let take an example of say an individual who is interested in sports business and brings out money to setup a football team, first the person will start by employing young youths and them of the street and labour market and at least for a football team to be set up you must need at least fifty individuals from the players to the couching Crew to the backroom staff then  the team that has been setup will need a stadium where they will be playing their match's so they will set up a structure in form of a stadium and this newly built stadium needs to be cleaned and and we'll taken care of so more people are to be employed again and salaries will be paid to them at the end of the month

So while the owner of the business who is profit oriented gets his return for investment when the team wins a league title or from transfer of players and from tickets sold to fans who come and watch their match's he has created wealth to his employees by way of paying them salaries which in turn translate to economic growth

Several sectors are needed for economic growth, not just one sector. In my opinion, economic growth depends on the category of the country in terms of its economy as well. If the country is classified as a developed country, maybe the economic growth sector only needs one or two sectors. If it is a developing country, the direction of policy to support economic growth should not focus on just one sector such as the production sector that you mentioned. At least several sectors need to be focused on. This is a sign of talking about corruption.

Money is debt. If money is printed, make sure it goes into the production sector, not into the consumption sector or into the pockets of rich/corrupt people. Because if economic growth is calculated based on consumption, it means we expect inflation. That's the same as pouring gasoline on the fire. So, every country, if it wants its economy to grow, must protect the private sector and MSMEs with policies that favor farmers/traders/small producers.

Not everything in a country can run by a government so which itself enough why we need private sectors to keep things in balance, of course government bend their rules in favour of them for whatever reasons while private sectors create job opportunities that again help someone to make money and they will spend the money they earned so that will obviously help in the development of economy in a country.

We can't deny the fact that the private sector is also vital in the economic progress of any government. As they have their own mission to accomplish in the business, they make sure they have all the resources to achieve such mission. And along with such accomplishments are also people in these companies that are also earning, and so they are the ones comprising the community. With good income, comes with good economy.

Without the help of the private sector I don’t think many countries will survive, the reason why I said that is because of the way some countries' governments operate, some governments are very corrupt which leads to the people of the country not being able to survive, private sector is like another alternative for people to survive without depending on government assistance, there are many countries that the government did not employ many people but with the help of private sector they can be employed and get paid by the private sector to pay for their services without any assistance from government.

We all know that the government has power over the private sector and the private must follow the rules and regulations that the government comes with but some private sectors are even doing better than the government sector, private sector make the people forget about the government and if you look at some countries today you will see that private sector things are doing well more than the government, even the government workers are taking their children to private schools.

The private economic sector has always been the biggest contributor to the country's economy, it is very important for countries everywhere, I agree with you that indeed private companies also help reduce unemployment as well as economic turnover in their neighborhoods and grow state revenues from taxes that are applied, but some things that might be a common problem in every country about private companies are about taxes and policies that make it difficult for private companies that can interfere with the operations and growth of private companies in certain countries

I don't agree if it should be viewed equally because it will potentially be very bad for the growth of small entrepreneurs, I think there needs to be a policy that can be fair for both nascent, mid and high-level entrepreneurs and provide policies that are relatively not burdensome to each other but have different obligations and responsibilities for each business that is run according to the level of business, because if it is equal it will make the big ones more uncontrollable.

Because the private sector is very important and economic growth starting from the smallest will be better if it is addressed carefully in its growth so that the economic turnover is very good, it does not need to be fast, but gradual and continues to rise.

The importance of private sectors in economical growth can not be overlooked especially in a time like this when responsibility is becoming a budden on government which they are yet to meet up successfully. Some of these private sectors have made positive influence in the live of people and contribute immensely to the development of the economy. Unfortunately, the government has not been playing her role effectively to aid their participation in economical growth due to unfavorable working environment and necessary support to them. In some countries especially in Africa continent, some private sectors are the most contributor to the economy because the public or government sectors are regarded as no man property and no one care about whether they are working successfully or not and corruption has bewildered the ones working thereby not allowing it to impact the economy growth.

And right for that the policymakers of a country should give social opportunities to every business within the country and look at them equally so that no business is deprived. Besides extending a helping hand to those people who want to establish themselves as entrepreneurs within the country. So that the wheel of development of the country could continue at a high speed.

Basically, the private sector plays an important role in realizing an economic condition in a country, without private assistance it is difficult for the government to manage it alone because there are limited funds, so with this the private sector in the country's economy remains important because in the process, it can help the wheels of the economy run, such as absorbing labor and that is very helpful to economic growth, some private companies always work together with government institutions to regulate and run the economic activities of a country, with this the government has an important role as a policy maker in regulating the economic activities of the community and private business actors.

From the economic process that occurs, the private sector provides a positive effect, which is always present in a country and its role can help, advance the economic sector in all fields and it has been proven, reducing the unemployment rate which is currently increasing with the presence of this private sector providing a role to help the government, because the government finds it difficult to work alone and it is something that is mutually needed.

Not everything in a country can run by a government so which itself enough why we need private sectors to keep things in balance, of course government bend their rules in favour of them for whatever reasons while private sectors create job opportunities that again help someone to make money and they will spend the money they earned so that will obviously help in the development of economy in a country.

Therefore if the private institutions can be coordinated with the government institutions of each country to achieve certain goals and objectives then it will be possible to achieve the economic growth of a country very easily and the internal environmental stability of the country will prevail.

From the economic process that occurs, the private sector provides a positive effect, which is always present in a country and its role can help, advance the economic sector in all fields and it has been proven, reducing the unemployment rate which is currently increasing with the presence of this private sector providing a role to help the government, because the government finds it difficult to work alone and it is something that is mutually needed.

Not everything in a country can run by a government so which itself enough why we need private sectors to keep things in balance, of course government bend their rules in favour of them for whatever reasons while private sectors create job opportunities that again help someone to make money and they will spend the money they earned so that will obviously help in the development of economy in a country.

Without the help of the private sector I don’t think many countries will survive, the reason why I said that is because of the way some countries' governments operate, some governments are very corrupt which leads to the people of the country not being able to survive, private sector is like another alternative for people to survive without depending on government assistance, there are many countries that the government did not employ many people but with the help of private sector they can be employed and get paid by the private sector to pay for their services without any assistance from government.

We all know that the government has power over the private sector and the private must follow the rules and regulations that the government comes with but some private sectors are even doing better than the government sector, private sector make the people forget about the government and if you look at some countries today you will see that private sector things are doing well more than the government, even the government workers are taking their children to private schools.

Without the help of the private sector I don’t think many countries will survive, the reason why I said that is because of the way some countries' governments operate, some governments are very corrupt which leads to the people of the country not being able to survive, private sector is like another alternative for people to survive without depending on government assistance, there are many countries that the government did not employ many people but with the help of private sector they can be employed and get paid by the private sector to pay for their services without any assistance from government.

Most of the private institutions and companies have always been coordinating with the government. All countries that have good economic growth or even those that are in developing nations. The role of the private sector is really big for the growth of any country. That is why they're given importance and some benefits as to their business and operations for the employment of their citizens and as well as to contribute to the GDP of a country. It's not just all about them being taxed but the help they're giving to the people and to the nation. People that don't like the private companies and are throwing nonsense arguments about them needs to face the reality of how they're helping their motherland.

Countries that have economic growth in the private sector will definitely be helped more and will slowly become more advanced because everyone in the country is no longer completely dependent on the government. Because they can work alone to make ends meet and to build their own future by continuing to work every day on what they are able to do in the field they have mastered. And I personally am actually quite happy if there are many citizens who are willing to work freelance without any ties to the government so that the government can focus on organizing the country's development and the infrastructure needed by its own citizens.

Countries that have economic growth in the private sector will definitely be helped more and will slowly become more advanced because everyone in the country is no longer completely dependent on the government. Because they can work alone to make ends meet and to build their own future by continuing to work every day on what they are able to do in the field they have mastered. And I personally am actually quite happy if there are many citizens who are willing to work freelance without any ties to the government so that the government can focus on organizing the country's development and the infrastructure needed by its own citizens.