The difference between public and private company mainly lies in ownership, share transfer, and compliance. A private company has a limited number of shareholders, restricts the transfer of shares, and cannot raise funds from the public. It follows fewer legal compliances and is ideal for small and growing businesses.
A public company, on the other hand, can invite the public to subscribe to its shares, allows free transfer of shares, and must follow strict legal and regulatory requirements. It is suitable for large businesses looking to raise capital from the public. Also Read- https://www.companiesnext.com/blog/difference-between-private-limited-company-and-public-limited-company