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The first British colony established in the new world was in 1588 by Sir Walter Raleigh at Roanoke, in present North Carolina. Unfortunately, when the supply ship made its return trip to the colony there was no trace of the colony left. Archaeologists continue to work at the site in an effort to explain the mystery.
The 1607 Virginia colony at Jamestown was established as a joint stock company by the Virginia Company. The money raised for the venture was done so by the sale of stock, shares were sold to pay for the expedition in hope for a future profit. The Jamestown charter granted ownership rights to those who invested in the colony. Although the Virginia Company failed in its efforts to produce a profit for its investors, the colony itself had survived.
Virginia is considered the first British colony in North America. There were previous Spanish colonies in North America and in Central and South America as well.
Virginia is considered the first British colony because it is the first place where British people created permanent settlements in North America. The first of these settlements to survive was the Jamestown settlement which was created in 1607. The Pilgrims who landed at Plymouth in Massachusetts are more famous, but they did not appear until 1619.
Virginia Colony was the initial pattern of the type of commercial colony, that was founded for profit.
The creation of this colony was based on the idea of founding an agricultural settlement that was trying to grow some plants that could not adapt to Europe's climate or to exploit the riches of the soil. The company that supported the colonization was to collect a part of the product of the work of these settlers (tobacco, cotton, wood), as the reimbursement of all expenses.
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