Storyby Jul 8, 2026 12:34 PM CUTIllustration by TIME; Victor_69/Getty ImagesSplashy public companies often dominate headlines, but the majority of the companies in the U.S. are privately owned and these companies are just as important to the economic ecosystem as the public ones—they support millions of jobs and contribute trillions to the economy. For business owners, there are a number of benefits to staying private. According to the U.S. Chamber of Commerce, being private “allows a company space to invest in and grow its business over a longer period without the same pressure to meet short-term financial targets.” Additionally, without the pressure of public disclosure, “private companies can more freely experiment with new technology and innovation, including greater tolerance for what