Venice Company facts for kids

The Venice Company was an English trading group. It started in 1583. Its main goal was to control trade. This trade happened near the city of Venice and its colonies. These places were in the Mediterranean Sea.

In 1592, the Venice Company joined with another group. This was the Turkey Company. Together, they formed the famous Levant Company. This new company managed trade between England and the Ottoman Empire for many years. It finally ended in 1825.

How the Venice Company Started

The Venice Company began in 1583. It was given a special permission, called a charter. This charter allowed it to trade for seven years. Thomas Cordell, William Garway, and Edward Holmden started it.

The company's job was to swap English goods for items from the East. English goods were usually wool clothes. From the East, they got spices, currants (for wine), and silk fabric.

Some important people in the company were Paul Bayning and Thomas Cordell. Thomas Cordell was also an alderman. This meant he was a leader in the city government. Edward Holmden and William Garway had much experience. They had traded in Morocco. Other members had traded in Spain.

Joining Forces: The Merger

In 1592, the special permissions for both the Venice Company and the Turkey Company ended. Queen Elizabeth I wanted to keep trade and good relationships. She especially wanted to stay friends with the Ottoman Empire.

So, Queen Elizabeth I agreed to let the two companies join. They became one big company called the Levant Company. Thomas Cordell and Paul Bayning moved to this new company.

See also

• Chartered companies