Business Structures

Public sector

government-owned businesses

Public sector

owned by the public as a result of paying taxes

Public sector

Do not compete with other instituitions for profit

Public sector

earns revenue, but earning profit is not their aim

Private sector

Businesses owned by private individuals, groups or instituitions

Private sector

Goal of overtaking competitions and maximising their profit

Public sector

Divided into three levels of government - local, state and federal

Public sector

Telstra, Qantas and Commonwealth Bank are examples of partially or fully privatised….

Private sector

Different owners include sole traders, partnerships and (public or private) companies

Privatisation

when a government-owned business is sold to the private sector

Chosen business structures affect

Tax you are liable to pay

Asset protection

Ongoing costs

Your clients

Profit

revenue - expenses

or income - cost