Features of Characteristics of Public Enterprise
1. Ownership: Public Enterprises are owned and financed by the government.
2. Establishment: Public corporations are established either by A decree is an official order given by a government or by a person with power. For example, the president can issue a decree making a particular day a national holiday.... More or act of parliament.
3. Objective: They are established purposely to provide essential services to the generality of the people.
4. Legal Entity: It is a legal entity as it can sue and can be sued in its own right.
5. Management: Public corporations are managed by a board of directors who are appointed by the government.
6. Not Profit Oriented: Public corporations are not set up to make a profit but to provide goods and services to the people.
7. High Capital Requirement: A public corporation requires large capital to set up, which cannot be provided by private individuals.
8. Employees are Public Servants: Workers in public corporations are public servants and are treated as such.
9. Government and Taxpayers bear the Risks: The government and taxpayers are responsible for financing the business so they bear all the risks associated with it.