How did new business methods encourage trade?

New business methods, such as the development of joint-stock companies and the use of bills of exchange, facilitated trade by allowing merchants to pool resources and share risks. Innovations like double-entry bookkeeping improved financial transparency and accountability, making it easier to manage larger transactions. Additionally, the establishment of standardized currencies and trade networks streamlined exchanges and reduced barriers, encouraging more extensive and efficient trade between regions. These advancements created a more interconnected global economy, fostering greater commercial activity.