In central and northern Italy and in Flanders, the rise of towns that were to a degree self-governing stimulated economic growth and created an environment for new types of trade associations.
Di kawasan tengah dan utara Italia juga di Flandria, pertumbuhan kota-kota sampai ke taraf swatantra merangsang pertumbuhan ekonomi dan menciptakan suatu lingkungan yang memungkinkan terbentuknya perhimpunan-perhimpunan usaha jenis baru.