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To speak about private enterprise, you need to know the appropriate vocabulary.
Private enterprise - industry and businesses owned by ordinary people, not by the government;
Predominant - more important or noticeable than others;
Sole proprietorship - a business that is owned and operated by only one person;
Cooperative - involving people working together to achieve the same aim;
Credit union - an organization that lends money to its members at low rates of interest;
Perpetual - never ending;
Vote - to show your choice or opinion in an election or meeting by writing a cross on an official piece of paper or putting your hand up;
Proceeds - the money that is earned from an event or activity;
Dividend - an amount of money paid regularly to someone who owns shares in a company from the company's profits;
Liquidate - to close a business because it has no money left;
Machinery - the system that a group of people uses to achieve something;
Consume - to use something such as a product, energy, or fuel;
Borrow - to use something that belongs to someone else and give it back later;
Interest - the extra money that you must pay to a bank, company, etc which has lent you money.
Examples:
This gives some unique advantages to the owners, such as limited liability of the owners and perpetual lifetime beyond that of current owners.
Importantly, the owners receive some of the profits or proceeds generated by the company, sometimes in the form of dividends, sometimes from selling their ownership at higher price than their initial cost.
If more money is needed than the initial owners are willing or able to provide, the business may need to borrow a limited amount of extra money with a promise to pay it back with interest.
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