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GCSE History · key term
A trading post where merchants stored, bought and sold goods; in this context, it did not mean a modern industrial manufacturing building.
Used by OCR
Paper 3
Revise: Chartered Companies and Global TradeThe East India Company organised long-distance trade through ships, overseas employees and trading posts known as factories. These were centres for buying, storing and exporting goods, rather than factories in the modern industrial sense. Its settlements could also include fortifications to protect its commerce against European rivals.
Paper 3
A trading establishment where company merchants conducted business and stored goods.
A trading ‘factory’ was a base for merchants and storage, not a modern industrial factory.
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Companies also wanted to establish factories: bases where their merchants conducted business and stored goods. These were trading establishments, not mechanised manufacturing plants.