Why is a PLC BETTER?
How come I have never heard of the PBC?
The PBC has been around for quite a while. The PBC Act dates back to 1993. The reason why it’s not popular is because most consultants generally don’t want to market it because it doesn’t bring as much revenue as the PLC which costs $300 on average.
Why is the PBC cheaper to register?
The PBC is a lot cheaper to register as it is government’s attempt to formalize the informal sector. It’s also specifically designed for small to medium businesses hence the attempt to reduce the price to accommodate smaller businesses who cannot afford the higher costs of registering a PLC. Not only is a PBC cheaper to register, it’s also cheaper and easier to maintain. It has no annual returns and laws that govern it are pretty straight-forward.
How many directors can a PBC have?
A PBC allows for between 1 to 20 directors. That means you can have a minimum of just 1 director and a maximum of 20 directors.