Business Sectors

• Primary sector:

  • Involves extracting raw materials from the earth
  • Examples of industries in the primary sector: fishing, mining, agriculture
  • The primary sector accounts for about 1% of the UK economy
• Secondary sector:

  • Involves converting raw materials into goods
  • Manufacturing and construction industries are the main parts of the secondary sector
  • Examples of secondary sector industries: car production, t-shirt production
  • Can produce finished goods or unfinished goods (e.g. assembly plants making components like steering wheels)
  • The secondary sector accounts for about 19% of the UK economy
• Tertiary sector:

  • The most important sector for the UK economy, accounting for 80% of the economy
  • Involves providing services
  • Examples of services in the tertiary sector: financial services, hotels, transport services (e.g. taxis)
• There are four main business functions that work together to make a business successful. These are marketing, operations, human resources and finance.