• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Why was the site of Quarrybank mill chosen by Samuel Greg.

Extracts from this document...

Introduction

Why was the site of Quarrybank mill chosen by Samuel Greg Samuel Greg set one of the most profitable mills in Britain up in 1785. It was, however, set up in the countryside, which was unusual, as most mills were set up in towns. So what were Greg's motives for setting up his mill in such an unusual area? An influential factor in setting up his mill in Styal may have been Greg's inheritance from his uncle, who died in 1872. His uncle, Robert Hyde, owned a merchant manufacturing business in Manchester (which dealt primarily in fustian, a cloth produced using both linen and cotton), and when he died, he left Greg roughly �30 000, a figure taken from Source 2. This large inheritance put him in a good financial position to take a risk, such as setting up his mill in Styal. ...read more.

Middle

Also, the American civil war of Independence had ended. This meant that success was likely, so he could look for somewhere with room to expand. As Styal is such a large place, there would be a lot of room to expand. Richard Arkwright's patent on his spinning frame was about to run out, so this encouraged Greg to set up his mill quickly as he would not have to pay to copy the spinning frame. If the textile industry continued to grow, Greg would be in a very good business position. Transport may have been another factor in Greg's decision. Source 12, a description of the countryside in 1795 by Dr. Aikin, points out the fact that Liverpool was easily accessible, as was Manchester, being as they were both very close to Styal. The fact that Liverpool was easily accessible is useful as it has a dock, meaning that goods were more easily transportable. ...read more.

Conclusion

Greg would have needed to consider power when choosing where to situate his mill. There would be a lot of machinery in the mill and these machines would need to be powered somehow and as the River Bollin was in Styal, powering his machines by water would have been ideal. Not only would it be convenient as the river is directly opposite the mill, it would also be a very cheap to power his machines using water. We know that water can be used to power the mill, as an old corn mill was already set up there. Samuel Greg is clearly a good businessman, and part of being a good businessman is the ability to take risks. As he would not have been able to take such a huge risk without his inheritance, I believe his inheritance was the most influential factor in his decision. However, the fact that he would save money from power, by using water, is also a very important factor. Jordan Hoose ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Accounting & Finance section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Accounting & Finance essays

  1. This report has been produced as evidence for Unit 9 - 'Financial Services' - ...

    So there was �8,000 left in cash after I paid the outstanding balance. The income came from Jamie McPherson annual income of �35,000 I used his income after tax which was �25,879 and divided by 12 months to shows how much would come in each month.

  2. What does Finance involve.

    BREAK-EVEN POINT = FIXED COSTS / CONTRIBUTION To work out my break-even point, I would have to divide my fixed costs by the contribution. (The contribution is the difference between what it costs you to make a product and what it cost the customers to buy it.)

  1. With reference to the local area would the opening of a new business represent ...

    Side Streets and Parking at Front Nearby: Side Streets Only Limited Parking on Main Road Nearby: Side Streets and Parking at Front Head Count Saturday 1:30 to 1:45 - 39 Monday 3:50 to 4:05 - 25 Tuesday 5:00 to 5:15 -34 Saturday 1:30 to 1:45 - 35 Monday 3:50 to

  2. Identifying and describing the main financial service needs for a student starting at university

    Borrow more. Pay less Take out a Graduate Loan and borrow between �1,000 and �15,000, with preferential rates and no arrangement fee, to fund a new job, take a break, furnish a new place or buy a car. Help with finding a job Nat west Graduate Job-Finding Service includes access

  1. Project DR: Manufacturing Division

    Quik Calc -- This is an adhesive belt that holds calculators and diskettes within easy reach of the busy accountant. Utilizing the targeted strengths of each division, DR is expected to overcome current financial constraints and meet the overall company goal of renewed growth and focus for the future.

  2. Management Accounting Report.

    The only reason that might make this product successful is that there are a number of public houses in England that might be interested to buy the product to make sure that they charge for beers and lagers as much as they are worth.

  1. Responsible accounting is the ability to conduct business in a way that is not ...

    The example for this type is that a CPA firm tax department allocates its costs to the clients. So, if you get your taxes done by a CPA firm then the amount that you are charged will have some of the allocated costs added into it (1).

  2. In What Ways Did The Conditions At Greg's Mill Differ From Some Other Textile ...

    He set up a Saturday market for the employees that lived in the village and even had a festival which had it's own theme song. This increased the morale of the staff and so more profit was made. Both Greg and Arkwright were very similar to each other.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work