CHAMBER OF COMMERCE
A chamber of commerce is an association of business houses and industrialists of a locality, town, city, state, region, country or even international, formed to protect and promote the economic and non economic interests of its members. These associations intend to protect the rights of its members through legislative and other means. These associations perform the role of arbitrators and try to solve trade disputes among the members through arbitration or representation. In order to promote the business interests further these organisations organize various kinds of seminars, conferences, workshops, exhibitions, trade promotion tours and trade fairs. The members can seek any kind of technical or non technical guidance, documentary evidences or important informations to solve their individual and isolated problems.
The chambers of commerce represent the business houses and industry on each and every platform. The chamber has a head office and office bearers. All the members of the chamber elect a board of directors or executive council to set policy for the chamber. The elected board or council then hired a president, CEO or Executive Director, plus supporting staff to run the organization. The chamber makes and receives all kinds of communications and correspondence with government and other regulatory agencies on behalf of industry and business houses it represents. It may however, act as a lobby in an attempt to get laws passed that are favourable to businesses. Its role of a facilitator and can propose recommendations to the government as and when required.
FEATURES OF CHAMBER OF COMMERCE
Some of the important features of a chamber of commerce are given as follows:
1. An association of economic units :
A chamber of commerce is an association of traders, business houses and industrialists mainly formed to protect their common interests.
2. It has a head office and office bearers :
A chamber of commerce has a head office and designated office bearers. All correspondence sent and received by the chamber is usually organized from its head office. The office bearers may be elected or nominated.
3. Memberships :
There is no restriction on the number of members of a chamber. The members may vary from few to in lakhs. In addition the members may not be from the same industry or same locality.
4. Business facilitator :
The role of chambers of commerce is mainly of a business facilitator. It helps the members in solving their problems and helps them in growth and promotion of their businesses.
5. Rules and regulation :
The chambers usually have its own constitution and governed by self determined rules and regulations by the members amended from time to time. All members are liable to obey these rules and regulations.
6. Best for business community :
Chamber of commerce is very helpful for whole business community because all the members are from different industries. It helps to find solutions for common problems of all the industries.
7. Helpful to members :
Members can find all the useful information under one roof. In this way, it is very useful for the members.
8. Well representative :
Whole business community is member of chamber of commerce. So, it is very important forum and well representatives for all the industries of particular region.
9. Act as a guide :
It act as a guide for the members. It provides the forum to the members and in any unwanted situation, it provides them support and training.
10. Reduction in problems :
It reduces the unhealthy competition. Members are not the competitors. So the problems are minimized in chamber of commerce.
11. Marketing facilities :
It organizes the trade fairs, workshops and seminars for the members. So, at these occasions, members can advertise their products and can seek.
12. Rules and regulation :
There are certain rules and regulations for the members. No members can violet these rules.
13. Assistance to the government :
These chambers provide assistance to the government and economic planers from time to time regarding various kinds of the policy matters relating to industrial growth and development of the country.