Educated in Winson Green, Birmingham.Apprenticed to Messrs Male and Rock, Birmingham, 1771.
Established Hardware Factors in Birmingham with Edward Homer [1749-1825]. Traded first in premises in Church Street, rented properties from William Chance's uncle. In 1804 formed a new partnership with Edward Homer and Chance's son, Robert Lucas Chance. Firm known as Chance, Homer and Chance. On the departure of Homer from the business, in 1807 William formed a partnerhship with his son Robert Lucas, until 1809 when his younger son, William Jr, joined the firm. In 1814 his son Edward also became a partner and the business was renamed William Chance and Sons. Homer also held shares with William Chance and John Robert Lucas, the formers brother-in-law, in the Nailsea Crown Glassworks.