What is Business Sector?

Legal Definition
In economics, the business sector or corporate sector is "the part of the economy made up by companies". It is a subset of the domestic economy, excluding the economic activities of general government, of private households, and of non-profit organizations serving individuals. An alternative analysis of economies, the three-sector theory, subdivides them into:

  • the primary sector (raw materials)
  • the secondary sector (manufacturing)
  • the tertiary sector (sales and services)

In the United States the business sector accounted for about 78 percent of the value of gross domestic product (GDP) as of 2000.
-- Wikipedia
Legal Definition
In economics, the business sector is a subset of the domestic economy excluding the economic activities of general government, private households, and nonprofit organizations serving individuals.