This script function creates a new folder and shares the folder with default permissions of everyone with full access. The script works for local and remote file shares.

strLocalFolder = "C:\Public"
strComputer = "."
strUNCFolder = "\" & strComputer & "\" & Replace(strLocalFolder,"C:","C$")

strShare = "Pubs"
strDesc = "PublicShare"

createShare(strComputer, strLocalFolder, strUNCFolder, strShare, strDesc)

Function createShare(strComputer, strFolder, strShare, strDesc)

Set objFSO = CreateObject("Scripting.FileSystemObject")

If Not objFSO.FolderExists(strUNCFolder) Then
   objFSO.CreateFolder(strUNCFolder)
End If

Set Services = GetObject("WINMGMTS:{impersonationLevel=impersonate,(Security)}!\" & strComputer & "\ROOT\CIMV2")
Set Share = Services.Get("Win32_Share")
Set InParam = Share.Methods_("Create").InParameters.SpawnInstance_()
InParam.Properties_.Item("Description") = strDesc
InParam.Properties_.Item("Name") = strShare
InParam.Properties_.Item("Path") = strLocalFolder
InParam.Properties_.Item("Type") = 0
Set noth = Share.ExecMethod_("Create", InParam)

End Function