- By the 17th century, trading companies from Portugal, Holland, England, France, Denmark began establishing their trading posts in the coastal areas.
- These centers came to be known as factories because the officials residing their were called factors.
- Many European countries tried to get a greater share of this trade. The British and the French became the key players dominating trade but ultimately the British managed to ensure trade Monopoly.
1. The East India company of England was started by a small group of British merchants