noun
private enterprise; private business
Refers to business or industry run by private entities, as opposed to government or public sector. Often used in economic or policy contexts.
政府は民業の活性化を支援している。
The government supports the revitalization of private enterprise.
民業と公営の役割分担が議論された。
The division of roles between private business and public management was discussed.
Compound of 民 (people, private) and 業 (business, industry). The reading is on'yomi.