What term refers to government businesses that operate like private companies?

The correct term for government businesses that operate like private companies is corporatisation. This refers specifically to the process of transforming a government department or agency into a corporation that is structured to operate in a commercially-oriented manner, similar to a private enterprise. By adopting this model, the government business can focus on efficiency and profitability while still serving public interests.

Corporatisation often involves changes in management practices, accountability, and financial operations to enhance operational effectiveness and customer service. Such government businesses may have more autonomy, allowing them to make decisions based on market dynamics while remaining owned by the government.

Privatisation, on the other hand, involves transferring ownership of a government enterprise to the private sector, which is distinct from merely functioning like a private company while still under government ownership. Commercialisation refers to the process of enhancing the commercial value of a service or product without necessarily changing the structure of the organization. A public-private partnership is a collaborative agreement between government entities and private companies to deliver services or projects, but this does not refer directly to government businesses operating like private companies.