1. Resources Coal and iron ore used for creating steam
Skilled mechanics who learned from the Scientific Revolution and Enlightenment period now began to invent new machines

2. Labor Rapid population growth – caused in part by increase in food
Enclosure movement had eliminated many small farms and freed farmers up to take factory jobs
New machines used in farming increased productivity so fewer farmers were needed

3. Transportation Extensive river system
Private and public investments were made to build roads, bridges and canals
Irregular coastline gave Britain many good ports

4. Government Support
British government had created a strong central bank which made borrowing easier
British government built a strong navy to protect its overseas investments

5. Markets
Colonial possessions provided Britain with markets for their goods

6. Investment Capital
Improvements in agriculture made food cheap and freed up $ for investment
Profits from trade and the cottage industry
Strong central bank with flexible credit facilities for lending
Profit from colonies

7. Spirit of Entrepreneurship
Many British were willing to take a risk with their money and invest in businesses
Religious beliefs encouraged thrift and hardwork