Set up by King James 1, The Plymouth Company was established in 1606.
The premise of the company was to act as a “joint-stock” company meaning it would establish settlements. The target region for these settlements was near North America’s coastline. The company was set to do all of the work for the monarch and make sure it was established as necessary.
How was it set up?
The Plymouth Company was built on the shoulders of merchants who were funding the enterprise. The goal was to get a financial setup in place that would be offered to settlers. These settlers would then head over to the North American coastline on behalf of the monarch.
How were the merchants making money from this and what was the incentive on their side?
The benefit of doing this for the merchants had a lot to do with the money they would receive from settlers once they started earning in North America. Those settlers were taxed on any income they made, and it was sent back to the merchants similar to what a venture capitalist would do nowadays.
Since the profits were high at the time, it was easy for settlers to send over funds and still make a lot of money for themselves.
Revival in 1620
For a while, the company was asked to stop, and it was no more until it was revived later on. It was in the year 1620 when it was decided The Plymouth Company would be established again and run like it was before. However, this time it would be named The Plymouth Council for New England.
It was able to get 40 merchants to sign up and invest as a part of the project, and it did last for four years before dying out again.
By the year 1624, The Plymouth Company was no more.
Where was this company housed in North America?
According to modern maps, it was near the Chesapeake Bay or the Us-Canada border. They made sure to set up a colony named “the Popham Colony” near modern-day Maine. This was the heart of their operations and where all of their assets were established at the time.
The newer company that was revived later as The Plymouth Council was moved to Plymouth, Massachusetts until it died out. Most of the attention was pushed towards Great Britain’s ventures in other parts of the world.