Which countries in Europe provided funding for new industries during the Industrial Revolution ?
Key factors fostering this environment were : (1) The period of peace and stability which followed the unification of England and Scotland ; (2) no trade barriers between England and Scotland ; (3) the rule of law ( respecting the sanctity of contracts ) ; (4) a straightforward legal system which allowed the formation of joint - stock companies ( corporations ) ; and (5) a free market ( capitalism ) .