A Rich History
English coffee houses, in the 17th and 18th centuries, were public social places where people would meet for conversation and commerce while drinking coffee. For the price of a penny, customers purchased a cup of coffee and admission.
Business as Usual
The absence of alcohol created an atmosphere in which it was possible to engage in more serious conversation than in an alehouse. Coffeehouses also played an important role in the development of financial markets and newspapers. Topics discussed included politics and political scandals, daily gossip, fashion, current events, and debates surrounding philosophy and the natural sciences.
The Birthplace of Many Businesses
Businesses that Started at 17th century English Coffee Houses:
Lloyd’s of London
the world’s oldest and largest insurance syndicate
Lloyd’s Register
the world’s oldest ship design certification company
Lloyd’s List
the world’s oldest continuously publishing business newspaper
Lloyd’s Agencies
a loose federation of world business intelligence agents
Patronage
These coffee houses were frequented by merchants and sailors, deals in the shipping industry were conducted. Stockbrokers also gathered and traded in coffee houses because they were not allowed in the Royal Exchange due to rude manners.
