Private sector that is failing (8)
I believe the answer is:
esoteric
'private' is the definition.
(associated in meaning)
I don't understand the rest of the clue.
Can you help me to learn more?
(Other definitions for esoteric that I've seen before include "Secret, mysterious" , "Aimed at a few" , "Intended for the few" , "known to a few" , "exclusive" .)