by A chamber of commerce, or board of trade, is a form of business network, for example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community. Local businesses are members, and they elect a board of directors or executive council to set policy for the chamber. The board or council then hires a President, CEO, or Executive Director, plus staffing appropriate to size, to run the organization.
A chamber of commerce may be a voluntary or a mandatory association of business firms belonging to different trades and industries. They serve as spokespeople and representatives of a business community. They differ from country to country.
Characteristics
Membership in an individual chamber can range from a few dozen to well over 800,000, as is the case with the Paris Île-de-France Regional Chamber of Commerce and Industry. Some chamber organizations in China report even larger membership numbers. Chambers of commerce can range in scope from individual neighborhoods within a city or town up to an international chamber of commerce.
In the United States, chambers do not operate in the same manner as the Better Business Bureau in that, while the BBB has the authority to bind its members under a formal operation doctrine (and, thus, can remove them if complaints arise regarding their services), the local chamber membership is either voluntary or required by law. Some chambers are partially funded by local government, others are non-profit, and some are a combination of the two. Chambers of commerce also can include economic development corporations or groups (though the latter can sometimes be a formal branch of a local government, the groups work together and may in some cases share office facilities) as well as tourism and visitor bureaus.
Some chambers have joined state, national (such as the United States Chamber of Commerce and the British Chambers of Commerce) and even international bodies (such as Eurochambres, the International Chamber of Commerce (ICC), Worldchambers). Currently, there are about 13,000 chambers registered in the official Worldchambers Network registry, and the chamber of commerce network is the largest business network globally. This network is informal, with each local chamber incorporated and operating separately, rather than as a chapter of a national or state chamber.
Chambers of commerce plays a vital role by rendering useful services to businessmen and the Government. Services to businessmen
Chambers of commerce serves as friends, philosophers and guides to the business community. Businessmen derive the following advantages from chambers of commerce:
(i) Businessmen get valuable information free of cost.
(ii) They can expand their business activities with the help of suggestions and advice from chambers of commerce.
(iii) Chambers of commerce creates markets for the products of their members by organising fairs and exhibitions.
(iv) Businessmen get a common forum at which they can discuss problems and exchange views on matters of common interest.
(v) Differences and disputes among businessmen can be solved amicably and economically with the help of chambers of commerce.
(vi) Members take advantage of educational and training facilities offered by chambers of commerce.
(vii) Chambers of commerce undertakes research on behalf of their members.
(viii) Chambers of commerce fosters a sense of cooperation’s among businessmen.
Chambers of Commerce in India
In India, chambers of commerce have been organised at both regional and national levels.
- Regional Chambers of Commerce
(i) Indian Chamber of Commerce (Kolkata)
(ii) Bengal Chamber of Commerce (Kolkata)
(iii) Indian Merchants Chamber (Mumbai)
(iv) Mawari Chamber of Commerce (Mumbai)
(v) Madras Chamber of Commerce (Chennai)
(vi) Punjab, Haryana and Delhi Chamber of Commerce (New Delhi).
- National Chambers of Commerce
(i) Federation of Indian Chambers of Commerce and Industry (FICCI)
(ii) Confederation of Indian Industry (CII)
(iii) Associated Chambers of Commerce and Industry (ASSOCHAM)
(iv) All India Organisations of Employers (AIOE)
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