Why it started in Britain
One reason the Industrial Revolution began in Britain, was the ingenuity of a small number of inventors and scientists. During the 19th century, Britain was known as the “Workshop of the World”. While this was indeed a core reason for the commercial success of Britain, there were many other factors at work.
For example, Britain had established international trade connections, had a growing population, easy access to raw materials, capital to invest, plus a large agricultural population ready to supply food for the workers in the factories and cities. On an individual level, success also required business acumen including an understanding of law and a grasp of marketing.
Fire insurance also played its part in Britain’s industrial growth. By providing protection for investment in raw materials, machinery and the buildings that housed them, fire insurance helped mitigate risk.