Trade association

Trade association is an association of traders or producers engaged in the same line of trade, whose major aim is to protect and safeguard the interest of their members as well as their businesses.

Trade Associations may offer other services, such as producing conferences, networking or charitable events or offering classes or educational materials. Many associations are non-profit organizations governed by bylaws and directed by officers who are also members.

AIMS AND FUNCTIONS OF TRADE ASSOCIATION

1) Trade association aims at creating uniformity in their business activities.

2) It defends and advances the interest of members.

3) To maintain professional ethics of their line of trade.

4) It ensure their members charge uniform price.

5) To act as pressure groups in order to influence certain government policies.

6) It ensures members comply with industry standard.

7) Trade association mediate in disputes between members.

CHAMBER OF COMMERCE

Chamber of commerce is an association of merchants, manufacturers and businesses from different commercial fields or various lines of businesses with the aim of protecting their business interest.

There are national and international chambers of commerce such as; Lagos Chamber of Commerce, Ibadan Chamber of Commerce, London Chamber of Commerce etc.

AIMS OF CHAMBER OF COMMERCE

1) Chamber of Commerce promotes commercial activities.

2) It liaises with other chamber of commerce in relation to their business interest.

3) It influences the policy of government relating to commercial activities.

4) Chamber of Commerce promotes the business interest of it area of jurisdiction.

FUNCTIONS OF CHAMBER OF COMMERCE

1) It promotes home and foreign trade.

2) To educate members on government legislations.

3) To cooperate with other chambers of commerce.

4) They act as watchdogs in the administration of government laws.

5) To organize trade fairs and exhibitions.

6) To collect and disseminate information to members.

Exercises

1. Define trade association.
2. Give five (5) functions of trade association.
3. Explain the meaning of chamber of commerce.
4. What are the aims of chambers of commerce?
5. List four (4) features of chamber of commerce.