Guilds in Medieval England
Guilds were associations of craftsmen and merchants in medieval England. They played a significant role in regulating trade and protecting the interests of their members.

How did guilds make it difficult for new merchants to set up business in towns of England?
- Monopoly Control: Guilds had a strong hold on trade in towns, often establishing monopolies on certain products or services. This made it difficult for new merchants to enter the market and compete with established guild members.
- Membership Restrictions: Joining a guild was essential for conducting business in many towns. However, guilds often had strict membership requirements, such as apprenticeship and fees, which could be prohibitive for new merchants.
- Regulation of Markets: Guilds had the power to regulate markets in towns, including setting prices and determining who could sell goods. This control made it challenging for new merchants to establish themselves in the market.
- Exclusivity: Guilds often operated as closed groups, with members protecting their trade secrets and techniques. This exclusivity made it difficult for new merchants to access resources and information needed to start their businesses.
In conclusion, guilds in medieval England made it difficult for new merchants to set up business in towns through their monopoly control, membership restrictions, regulation of markets, and exclusivity. These barriers hindered competition and innovation in the marketplace, limiting the opportunities for aspiring entrepreneurs.