Its origins can be dated to the English discovery of [[Newfoundland]] in 1493, and its voluntary end began in 1947 (when [[India]] was granted independence), and peaked in the 1960s (when Britain withdrew from most of its remaining colonies). The last stages came as recently as 1997 (when [[Hong Kong]], the last major colony, was returned to [[China|Chinese]] rule).
The European powers after 1500 had national governments with centralized military and navy power, financial resources, religious impulses and military technology. Some of them—Portugal, Spain, England, France, and the Netherlands especially, wanted overseas colonies to bolster their economic, religious and political ambitions, and provide an outlet for the energies of ambitious young men. England (later Britain with Scotland after 1703) was the most successful because it resisted the ambitions of Spain and, in a series of wars in the 18th century, defeated France in North America and India.
In the long-run, the success of the British Empire depended on an economic system that had stable money and encouraged trade and entrepreneurship, a strong navy that guaranteed protection for all the colonies (none was ever captured by an enemy), and a legal system that was stable, fair and lacking in petty corruption or bribery.