Though I am answering this through logic and my knowledge on history. I would believe making colonies was the answer. Because of England's particular involvement with colonies. Colonies made loads of money especially with high taxes they imposed upon their colonies. England was not just out of money with a exploration route its upkeep for military and Empire grew. Its many wars took a toll on their coffers and the money vanished until colonies were "founded".
It was not fishing because England was already an island and fish was easily accessible and not a commodity. Entering the fur trade was not much of England's sights before the establishment of colonies so this is a trick answer. Looting Spanish ships? No. They had a huge navy and so did Spain. England were not pirates and looting Spanish ships would be called an act of war. Not really going to help the money situation. So making colonies helps. It checks all the things they want. Make Spain mad without an act of war, more food and commodities, which means more money. Making a world dominated empire that strikes fear into most countries. Being unrivaled for the most part is quite good in a dog eat dog world. Good thing England then became something larger than dogs.