The public sector is made up of hundreds of different services which are run by the government using taxpayers’ money. From schools and hospitals to libraries and council run services, the public sector as a whole employs millions of people in the UK. It provides a lot of job opportunities for those interested in a range of career paths and there are many advantages of running a business in, or working with, the public sector.
1. Stable Industry
Despite the ongoing government cuts to a lot of services, businesses in the public sector are often a lot more stable than private ones. Though they will have targets to meet they are not profit driven and have the government’s backing as an essential service to keep going. This provides a lot of job security to those working in the public sector, creating a unified team.
2. Attractive for Employees
This increased job security is one of the many appealing features public sector companies possess for attracting new employees and retaining existing ones, also appealing is the attractive pension schemes workers can benefit from. Not focusing on profits helps form a better, less stressful working atmosphere. While this doesn’t mean running such a business is easy it does benefit from a less competitive nature and flexible working hours offered by many.
3. Benefit the Local Community
Public sector services are there to help out citizens in many ways, including boosting the local economy through using labour and resources from within the community. Any profits made shouldn’t go on individual bonuses but are instead reinvested in the business and the community. For this reason many private businesses like to work with the public sector and offer their co-operation, such as courier services from TNT.
4. Equal Distribution
Backed by the government means there is a lot of opportunity to reduce the inequalities of wealth and income present in many private companies. This can create a happier and more productive working environment if everyone knows they’re on a similar level. It avoids lots being spent on unnecessary costs that can threaten the company’s existence.
5. Balanced Production
Unlike private businesses which will look to create vast profits but sometimes end up with excess production and masses of waste, there is no such requirement in the public sector. This reduces and in some cases eliminates the amount of time and energy wasted, resulting in a balanced production of goods or services required by people. Working in or with the public sector holds many advantages for employees, owners and consumers.