The Private Business Corporation (PBC) is a less common but viable option to the Private Limited Company. It is mostly used by small businesses or home industries who want to regularise their business operations or those aiming to operate as consultants, contractors or partners such as lawyers and accounting firms. It protects the personal finances of the company owners in a similar way as a Private Limited Company. Instead of having shareholders and directors, it has members. The member’s financial liability is restricted to the amount of money they invest when forming the company.
