"The private sector" refers to businesses or organizations that are not controlled by the government. It is a term that is often used in discussions about the economy and job creation. Synonyms for "the private sector" include the business community, the corporate world, the commercial sector, and the non-governmental sector. Other terms that are sometimes used to refer to this sector of the economy are the for-profit sector and the market economy. When discussing government policies that affect the private sector, terms like regulations, deregulation, and taxation are also commonly used. Regardless of what term is used, the private sector is an important driver of economic growth and innovation.