Why might England have initially relied on corporate exploration/settlement rather than creating government-led colonies in North America?

England relied on a corporate settlement to led colonies in North America because the Company like Virginia, Plymouth and others were the part of the charters issued by the King of England. It was easier to maintain the rules and regulations then led by the government officials, who would exercise power and gain wealth for his benefit rather than giving it to his country. British King James I gave rights to the Virginia Company, a joint-stock company to establish a colony in the New World in the beginning.