IN ALL FAIRNESS TO THE CROWN…
As Wikipedia says (emphasis added),
Typically, these companies were formed from the sixteenth century onwards by groups of European investors to underwrite and profit from the exploration of Africa, India, the Caribbean and North America, usually under the patronage of one state, which issued the company’s charter. This enabled states to use private resources for exploration and trade beyond the means of the limited resources of the treasury, which is a liberal form of indirect rule….
(Colonists’ problem being that the companies weren’t formed for their benefit, but that of the nation as a whole!)