Definitions are the first order of business for any book, particularly one whose title contains such slippery terms as “business” and “Europe.” A second order is to forewarn the reader that there are two distinct divisions that must be recognized in this history, one geographical and the other temporal. And the third is to emphasize that this is a business history, not an economic history.

In this book, business will be dealt with in its broadest sense, that is, any activity involving exchange between two or more parties – in country or town, and on a local, regional, or international scale. Our coverage will therefore range from the organization of small artisanal workshops to the operations of large international manufacturers and marketers. And it will deal extensively with the vital role in business of medieval governments of all sorts. The Europe whose business we will be examining is somewhat more restricted in scope, being limited to those territories contemporaries called Western Christendom, including the Iberian peninsula as it became Christianized. Stated another way, we will be looking at what is commonly known as western Europe, plus Poland and Hungary. We will, however, also be discussing the activities of European businessmen wherever they took place, especially in North Africa and the Near East.

The geographic division is necessary in order to recognize the significant differences between northern and southern Europe in the evolution of business practice.