What Is A Chamber of Commerce?

What Is A Chamber of Commerce?

1 May 2008

Everyone knows the term, but what exactly is a chamber of commerce? One concise definition is:

‘An organization that organizes businesses in town’

And another:

‘an association of businessmen to protect and promote business interests’

Well that about sums it up, but what benefits can you get by joining your local chamber of commerce? Most chambers advocate five main benefits:

1.helping local businesses in legal/judicial matters
2.providing timely business related news and information
3.provide benefits to its members by way of discount schemes, joint promotions etc.
4.community involvement
5.strengthen business relationships through networking, although in many cases this benefit is implied rather than overtly stated!

1. Helping with legal/judicial; matters.

This typically includes things such as encouraging the efficient use of limited resources the government has dedicated to small businesses in their effort to reduce regulatory barriers, provide capital, and spur economic development. Expand and strengthen our infrastructure. Failure to do so can have devastating effects on a small business’ ability to survive. They’re called “essential” public goods for a reason: Your business can’t thrive and prosper without them. Also promote a tax policy that allows small businesses the opportunity to reinvest more money in the growth of their businesses.

2. Providing timely news.

Usually via newsletters, websites, emails and meetings. Important breaking news and changes to business related legislation, planning applications etc can be conveyed in a timely and accurate manner.

3. Members discount schemes.

For example, special rates and other benefits on Credit Cards and charge cards. Special deals with shipping companies. Negotiated advertising discounts in local and national press; cheaper insurance quotations and group cover; discounts to trade shows and exhibitions.

4. Community Involvement.

There’s strength in numbers. A Chamber fosters a sense of community among its members. Let your customers and employees know you’re doing the best for your business—and for them. Support your local charities via the chamber; get involved in local functions and parades. You will also have the ability to display the local chambers logo in your business to add kudos to your organization.

5. Business relationships.

Last but not least, the ideal place to cultivate new and develop existing business relationships and friendships. This is where you can network with your peers, informal deals can be done and sealed, as well as finding out what opportunities lie in the wider community.