Final answer:
Jamestown in Virginia was established as a business venture by the Virginia Company of London, with the aim of making a profit. Although the colony initially faced difficulties, it eventually relied on tobacco cultivation as its main source of income.
Step-by-step explanation:
The English colony that was established as a business venture was Jamestown in Virginia. The Virginia Company of London formed a joint stock company to invest in the colonization of Virginia with the aim of making a profit. However, Jamestown initially struggled and operated at a loss, leading the investors to set a priority on finding gold or the west passage to the Pacific. Eventually, tobacco cultivation became the main source of income for the colony.