Question

Why was the Virginia company founded

Answer 1

The Virginia Company refers collectively to two joint stock companies chartered under James I on 10 April 1606 with the goal of establishing settlements on the coast of North America. ... The Virginia Company failed in 1624, but the right to self-government was not taken from the colony.

Answer 2

It was expensive to launch a colony in the New World, is the right answer.

Step-by-step explanation:

England was relatively poor throughout the 1600's when compared to the other European nations. This was the main reason why Britain formed a joint-stock company and did not launch a colony in the New World. The Virginia Company of London was the leading British joint-stock company formed to build a permanent settlement in the New World. This company was divided into two companies known as the "London Company" and the "Plymouth Company".