Difference between a Private Business Corporation and a Private Limited Company

Our list of differences.

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Difference between a Private Business Corporation and a Private Limited Company

The following are the differences.

Private Business Corporation vs Private Limited Company

 

Private Business Corporation Private Limited Company
Mostly meant for small businesses Meant for small, large and very large businesses
Can accomodate 1 individual (sole trader) Does not accomodate sole traders
Suitable for businessses such as consultants, architectors, accountants, lawayer etc. Suitable for any business
Offers limited liability Offers limited liability
Does not separate owners and managers Owners (shareholders) and directors (managers) are separate
Minimum of 1 member Minimum of 2 diretors
Has perpetual succession Has perpetual succession
Other companies cannot own shares in a PBC. Only individuals are allowed. Other companies and organisations or individuals can own shares in a PLC
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