How did economic growth in Europe in the 1200s and 1300s lead to changes in business?
The 13th and 14th centuries saw a dramatic change in the economic systems of Europe, due both to the development of organized guilds, large trading markets, and the opening of new shipping and land routes to the Middle East and Asia. By the 13th century, towns and cities within Europe had become large enough for traders and merchants to prosper, but issues of quality standards, methods of exchange, and other economic issues led to the development of guilds which regulated and improved these standards.
This led to a vast increase in the quality, communication, and efficiency of many industries within Europe which greatly improved the economies of this region.
The development of free trade cities along with large markets also aided in the development of more productive and profitable economies. Guilds and trade organizations ensured that there were open marketplaces for traders and merchants throughout mainland Europe which again led to changes and improvements in the economy of this region. Finally, the Mongol conquests of the 13th century had placed all of Asia under one power, which meant that the Silk Road had become more safe and reliable than ever.
This meant that goods such as silks and spices could now be traded more freely in the Middle East, which led them to arrive in Europe over time. This opened up new markets to European merchants and traders and again led to massive changes in the way business was performed within Europe.