Joint stock company was formed in Britain in the 16th century with the principal purpose of pursuing trade with other countries, India especially. The joint stock company was of significant help to the growth of the British empire because the company rose to account for half of the world trade, particularly in basic commodities. This pumps a lot of money into the economy.
Also, the joint stock company signifies the beginning of the British empire in India. All these greatly influence the economy of the British empire making it to grow rapidly and gained more influence in the world.
