The role of private sector involvement in Economic growth

[Freeesta]

So the private sector of the economy is pushing it forward! It is he who forces enterprises to develop, dictating his standards, the state reacts to his changes and allocates funds for its development. It is the private sector that quickly responds to the needs of people, their interests, their desires. Healthy competition is created, which also gives economic growth. The state is like a big machine, in which all the parts are private companies. At the same time, they are collected together and represent a single mechanism...

[indah rezqi]

The role of private sector involvement in Economic growth I do agree with your statement that private sector had a lot of involvement in Economic growth I mean country need a business and private sector to sustain and stay alive and secondly private sector is needed to make healthy business in my opinion to avoid monopoly.

In simple terms, the presence of the private sector will open up more jobs, make prices more stable, and give people more choices and ultimately avoid monopoly. It is clear that the existence of private parties is very necessary to boost the economy of a country, but the State must have control over their existence, meaning that private parties must still comply with the rules of a State. Currently, we actually see many private companies collaborating with the Government to collaborate in certain fields, because they believe it can provide better results.

Meanwhile, there are actually quite a lot of monopolistic practices carried out by many companies, they are owned by the same one or two people but monopolize many sectors. In this case, the government must have the authority to regulate it as best as possible, so that business competition becomes healthier. Apart from that, the government must also provide a sense of security to investors, this is the main factor in making private parties want to invest in a country. What is clear is that the existence of the private sector is very beneficial to a country economy, because it can provide income for the country.

[MRY]

The role of private sector involvement in Economic growth I do agree with your statement that private sector had a lot of involvement in Economic growth I mean country need a business and private sector to sustain and stay alive and secondly private sector is needed to make healthy business in my opinion to avoid monopoly.

To grow the economy in a country, it involves the private sector because private businesses have quite a lot of profits. Private businesses have a lot of potential that can give them a lot of profits if they want to contribute to building the growth of a country. Many countries have received support from the private sector and have succeeded in becoming developed countries and even rich countries.

[MissNonFall9]

So the private sector of the economy is pushing it forward! It is he who forces enterprises to develop, dictating his standards, the state reacts to his changes and allocates funds for its development. It is the private sector that quickly responds to the needs of people, their interests, their desires. Healthy competition is created, which also gives economic growth. The state is like a big machine, in which all the parts are private companies. At the same time, they are collected together and represent a single mechanism...

It is important that private work is completed faster than any government work and responds quickly to public demand. Also, the private sector works tirelessly to achieve the long-term Sustainable Development Goals (SDGs) of any country. At the same time, it works to attract domestic foreign investment. So the government should also work to make this investment distributor attractive.

[justdimin]

So the private sector of the economy is pushing it forward! It is he who forces enterprises to develop, dictating his standards, the state reacts to his changes and allocates funds for its development. It is the private sector that quickly responds to the needs of people, their interests, their desires. Healthy competition is created, which also gives economic growth. The state is like a big machine, in which all the parts are private companies. At the same time, they are collected together and represent a single mechanism...

It is important that private work is completed faster than any government work and responds quickly to public demand. Also, the private sector works tirelessly to achieve the long-term Sustainable Development Goals (SDGs) of any country. At the same time, it works to attract domestic foreign investment. So the government should also work to make this investment distributor attractive.

The comparison is the fact that private ones care because they want to make more money, so they do a great job and they end up getting a better result because they want to make more money in the future. I always tell the same example to my friends, if you have a land, and you had two offers, they would both be your rent customer and will pay you same amount, one of them will be government who will build a small office for their workers, and the other is McDonalds who will build a McDonalds building to sell burgers out of it, which one would you pick?

I would definitely prefer McDonalds, they are mot guaranteed and they have been a lot better and I think it is quite clear that we are going to get a lot better results on the long run as well, they will do just that much better job.

[WillyAp]

The problem is some people are just greedy and have no consideration for other people’s wellbeing. Labor misconduct has been one of the biggest problems of my country. A lot of businesses tend to just give their employees the bare minimum and employees have no choice but to accept since they still need to be working and earning something somehow.

That is not really a problem, the problem is to deny that.
People in government are greedy and have little consideration of other people's well-being even though they deny it.

You see how important the private sector is when having a look into the performance of so called socialist countries.
Socialist countries subdue the private sector and misery is the consequence.

[Baki202]

So the private sector of the economy is pushing it forward! It is he who forces enterprises to develop, dictating his standards, the state reacts to his changes and allocates funds for its development. It is the private sector that quickly responds to the needs of people, their interests, their desires. Healthy competition is created, which also gives economic growth. The state is like a big machine, in which all the parts are private companies. At the same time, they are collected together and represent a single mechanism...

Private sector have done a lot of contribution to the economy and they have engineered they own sub groups to archive goals, and in some aspect they have done better than the government, before some establishment the community of some specific individual have to benefits before the approval of some projects, and in term of taxation its benefiting the government to and also provides jobs for people so private sector is a gift to the economy and people. just that in some sectors private are making money, because the government can not solve every problem, with the emergence of private sectors the government is relief of some responsibility,  just that if the government actually produce some things it will be better in term of price, because regulating this private sectors is usually very difficult and yo see there prices going up with consideration and the government is taxing them so their is limitation to polices.

[cabron]

So the private sector of the economy is pushing it forward! It is he who forces enterprises to develop, dictating his standards, the state reacts to his changes and allocates funds for its development. It is the private sector that quickly responds to the needs of people, their interests, their desires. Healthy competition is created, which also gives economic growth. The state is like a big machine, in which all the parts are private companies. At the same time, they are collected together and represent a single mechanism...

Private sector have done a lot of contribution to the economy and they have engineered they own sub groups to archive goals, and in some aspect they have done better than the government, before some establishment the community of some specific individual have to benefits before the approval of some projects, and in term of taxation its benefiting the government to and also provides jobs for people so private sector is a gift to the economy and people. just that in some sectors private are making money, because the government can not solve every problem, with the emergence of private sectors the government is relief of some responsibility,  just that if the government actually produce some things it will be better in term of price, because regulating this private sectors is usually very difficult and yo see there prices going up with consideration and the government is taxing them so their is limitation to polices.

The limitation doesn't just stop there.
Private companies sure can make good economic growth for the country but not all companies are better owned by p[private individuals. The problem with governments today especially in developing countries is that they give control over private companies like water distribution and energy which its supposedly owned by the government.

Media for example is owned by private individuals who basically can be used by outside influence to which they are reporting biased news to their government.

[Reatim]

I think communist nation do also has their own benefits?

Communism allows for people to be equal which is obviously good. Everyone goes through the same thing so they build a better community and feel a stronger sense of responsibility with one another.

The fact that everyone will have at least basic care and needs is a very huge benefit of communism.

I also/even think we don't really need a government but as long as people are already well disciplined, that should do the job and/but the more it can be attained when we are in a communist nation.

That would be chaos because a country needs to be making decisions to function. I suppose we can always cast votes but it is quite impossible to not have at least one person doing something that is harmful to others. How would then we punish the person without a government that implements laws?

[lizarder]

Communism allows for people to be equal which is obviously good. Everyone goes through the same thing so they build a better community and feel a stronger sense of responsibility with one another.

The fact that everyone will have at least basic care and needs is a very huge benefit of communism.  

Why does it have to be communism to create equality and is there no other system that can provide certainty about this? Responsibility for each other will be formed when someone has a sense of responsibility. This is what is starting to disappear in our lives now because people are too busy thinking about their own fate rather than sharing with others.

Everyone has needs that must be met and this will never be denied because humans have a desire for food, shelter, health and so on. To foster a sense of caring for others, it should be possible to create it because the life that humans live now has shifted greatly with social values.

That would be chaos because a country needs to be making decisions to function. I suppose we can always cast votes but it is quite impossible to not have at least one person doing something that is harmful to others. How would then we punish the person without a government that implements laws?

Without government the country will never function because there is no legal basis that regulates it. I think the condition of a country like that will become even more chaotic and uncontrollable because the wheels of government will not work. Now that's what people are facing, what we encounter a lot of criticism will end in punishment and at least that is what we see from the ITE Law that is currently in effect.

[WillyAp]

Communism allows for people to be equal which is obviously good. Everyone goes through the same thing so they build a better community and feel a stronger sense of responsibility with one another.

Show us one (1) example please.
Communism causes misery and have caused more displacement than any other system.

[MissNonFall9]

So the private sector of the economy is pushing it forward! It is he who forces enterprises to develop, dictating his standards, the state reacts to his changes and allocates funds for its development. It is the private sector that quickly responds to the needs of people, their interests, their desires. Healthy competition is created, which also gives economic growth. The state is like a big machine, in which all the parts are private companies. At the same time, they are collected together and represent a single mechanism...

It is important that private work is completed faster than any government work and responds quickly to public demand. Also, the private sector works tirelessly to achieve the long-term Sustainable Development Goals (SDGs) of any country. At the same time, it works to attract domestic foreign investment. So the government should also work to make this investment distributor attractive.

The comparison is the fact that private ones care because they want to make more money, so they do a great job and they end up getting a better result because they want to make more money in the future. I always tell the same example to my friends, if you have a land, and you had two offers, they would both be your rent customer and will pay you same amount, one of them will be government who will build a small office for their workers, and the other is McDonalds who will build a McDonalds building to sell burgers out of it, which one would you pick?

I would definitely prefer McDonalds, they are mot guaranteed and they have been a lot better and I think it is quite clear that we are going to get a lot better results on the long run as well, they will do just that much better job.

I would definitely choose McDonald's too. When a work comes under the control of the government, its entire financial risk does not fall on a specific or single person so they have no interest in the work. On the other hand if the work is under the control of a single person or private organization, then the responsibility or risk is on a specific person or organization so the quality of work is better and the results are better. So I will also lease my land to McDonald's to make burgers.

[Riginac111]

Do you know that a private sector there are the one of the Major group that causes hardship in exercise if economy of a country happened to be bad the private sectors who are business owners are the one that is Skyrocket the hardship of a particular Society in a country so if it is not well controlled by the government there will be the one to Skyrocket the danger in Society

[peter0425]

Do you know that a private sector there are the one of the Major group that causes hardship in exercise if economy of a country happened to be bad the private sectors who are business owners are the one that is Skyrocket the hardship of a particular Society in a country so if it is not well controlled by the government there will be the one to Skyrocket the danger in Society

Obviously with everything there are pros and cons that should be considered if we want a balanced functioning society.

Private sectors are usually the ones who initiate the newest inventions and innovations as they are driving and aiming for profit. This create jobs which give so much opportunities to a lot of people however these private sectors are problems for the overall  state of the society as they usually just considers profit of their organization and nothing else.

[Uhwuchukwu53]

For the private sector to invest in the economy for it's growth, the government of that country must create an enabling environment that will attract them first. Without this the hands of the private sector will be tied. An enabling environment means, security. It means infrastructure development, it means that the private sector will not be over taxed and over-levied by the government. After this and many others, then the impact of the private sector will be felt all over the country.

That is just the conclusion of the whole matter, I concur this facts as it speak volume in my heart, before the initiative of private sector, the original purpose is to help the government allivate citizens or develop the society where the government can't covered All the needs of the people, but government even with that has it role to play just as alastantiger has stated ,they must create enabling environment, reduction of taxation, security etc, many private sector exist but it impacts is not felt due to government policy not favourable this deviation has caused allot of havoc that even the private sector are not willing to continue mostly on the third world countries.

If all cronies are Carry out in right direction the impact or importance of private sector can not be under rated.

[Roggeredek]

Private sectors are often very risky. But there are many private sector which do better than public sector. Because the private sector always makes more profit than the government. Gives huge profits to many of their customers.

[CageMabok]

Do you know that a private sector there are the one of the Major group that causes hardship in exercise if economy of a country happened to be bad the private sectors who are business owners are the one that is Skyrocket the hardship of a particular Society in a country so if it is not well controlled by the government there will be the one to Skyrocket the danger in Society

The private business sector which is managed by the community itself is usually easier to develop and also easier to overcome difficulties when the capabilities and capital owned by the business owner have increased without having to wait for disbursement from the government or approval from the government first. Because businesses that are related to the government usually have to wait for a decision from the government first so that those who manage them can have the authority to resolve problems that occur in their business.

Because the role of the private sector in economic growth is actually quite influential in society, because when society is prosperous through its own efforts it will also be quite good for a country because the government will not receive more criticism from its own people. We can see that protests and criticism from every people are when the people are not prosperous and are often hungry so they start making sometimes unreasonable attacks on their own government.

[MissNonFall9]

Do you know that a private sector there are the one of the Major group that causes hardship in exercise if economy of a country happened to be bad the private sectors who are business owners are the one that is Skyrocket the hardship of a particular Society in a country so if it is not well controlled by the government there will be the one to Skyrocket the danger in Society

Obviously with everything there are pros and cons that should be considered if we want a balanced functioning society.

Private sectors are usually the ones who initiate the newest inventions and innovations as they are driving and aiming for profit. This create jobs which give so much opportunities to a lot of people however these private sectors are problems for the overall  state of the society as they usually just considers profit of their organization and nothing else.

Business is the primitive occupation through which traders earn profit in return for providing some benefit (goods or services). We get many benefits including employment for the unemployed people of the society through the private sector or whatever other disadvantages there are in the organization. We have also seen that there were many government institutions in the country that were not making any profit but when they were put under the control of autonomous or private companies they started making huge profits which played a great role in the economy of the country. So whatever other difficulties there may be through the private sector it plays a very good role in the interest of the country.

[Zoomic]

Do you know that a private sector there are the one of the Major group that causes hardship in exercise if economy of a country happened to be bad the private sectors who are business owners are the one that is Skyrocket the hardship of a particular Society in a country so if it is not well controlled by the government there will be the one to Skyrocket the danger in Society

Obviously with everything there are pros and cons that should be considered if we want a balanced functioning society.

Private sectors are usually the ones who initiate the newest inventions and innovations as they are driving and aiming for profit. This create jobs which give so much opportunities to a lot of people however these private sectors are problems for the overall  state of the society as they usually just considers profit of their organization and nothing else.

Business is the primitive occupation through which traders earn profit in return for providing some benefit (goods or services). We get many benefits including employment for the unemployed people of the society through the private sector or whatever other disadvantages there are in the organization. We have also seen that there were many government institutions in the country that were not making any profit but when they were put under the control of autonomous or private companies they started making huge profits which played a great role in the economy of the country. So whatever other difficulties there may be through the private sector it plays a very good role in the interest of the country.

When a private individual pools out funds to create an innovation and make available that which the government cannot offer, he is incharge and can control it whichever way he wants. It becomes worse if such an individual has a total monopoly over that line of business or innovation as there are chances that he will abuse the power he has. This is where the government comes in.

Any government that has the interest of the people at heart will ensure they monitor all economic activities going on under their jurisdiction, public sectors inclusive.  The issue of exploitation of employees and customers, untold hardships on the masses, unwarranted price hike, artificial scarcity and the rest of them would not be heard of if there are regulations and standard government agencies on ground to ensure that the private sectors do not abuse the powers granted them.

The private sectors are unarguably very important to the internal and external growth of a country, but if they are not properly controlled, the masses will suffer.

[StreakW]

The role of private companies is very important in economic growth because the existence of private companies can reduce unemployment in a country and increase state income from taxes. Moreover, if the private company is large, the contribution in taxes will also be large, which can later be used by the state to improve the economic welfare of its people.