Florence itself was really important and significant during the Renaissance, because it was major factor of the culture. Wool from the area around Flornce was sold all over Europe and even the Middle East. This brought a lot of money, afterwards it allowed them to be rich people. Throughout, they are supporting artists with money, who makes them so important. Also, it was center for the European wool trade, the political power of the city rested primarily in the hands of the wealthy merchants who dominated the industry. Florence was also ann important banking center. Florence wasn’t a port city, so banking became an important industry. Florence bankers had influence throughout Europe.The Medici family ruled the city of Florence throughout the Renaissance. They had a major influence on the growth of the Italian Renaissance through their patronage of the arts and humanism. The Medici family were wool merchants and bankers. There were many guilds that were very successful in Florence. The textile guild for an example was really powerful. It operated branches all over Western Europe, financing the cloth and luxury trades and the ambitions and extravagances of princes, mercenary generals, popes and lords.