What Is A Chamber Of Commerce?
A chamber of commerce is a network of businesses. It is an organized group of businesses coming together to help other businesses grow and flourish with the help of networking, marketing, financial assistance, guidance, and more.
The chamber of commerce usually takes on the following –
- Business spokesperson.
- Tourist information center.
- Economic planner and developer.
- Government relations.
- Public relations advisor.
- Economic counselor.
- Human resource advisor.
The main goal of the chamber of commerce is to revamp the local business and boost the local economy.
The members of the Chamber of Commerce are the individuals, businesses, and organizations that invest their time to help improve the socio-economic climate.
On an individual level, they do not have enough influence over the activity. However, when they are joined together, this group of people hold more influence in the market.
Objectives Of Chamber Of Commerce
All the members are often split into different communities to help organize and carry out the Chamber of Commerce’s objectives more accurately.
The general objectives Chamber of Commerce are as follows –
- Help local businesses thrive and grow.
- Increase local job opportunities.
- Encourage expansion of the community in an organized and efficient manner.
- Contribute to economic stability.
- Promoting a free market economy by helping private organizations and businesses.
Things You Need To Know About Chambers Of Commerce
Digitization has led many small business owners to do all their networking online. Social networking sites like LinkedIn, Facebook, and Twitter have allowed businesses to communicate with customers and industry peers in a whole new way.
And the fact is, these networking platforms are effective. People spend a lot of time a day online, so it’s the perfect place to connect with people.
However, in-person meetings or networking groups are still alive and effective for businesses to get leads and customers. You are missing out on a lot of value if you are not part of a local networking group like a chamber of commerce in your area.
A recent study by The Schapiro Group found that consumers are 49% more likely to think more highly of a brand if it belongs to a chamber of commerce.
Here are four more interesting things to know about chambers of commerce:
Make Business Contacts
Chambers of commerce in different areas initiate monthly business-to-business networking events where small business owners can connect with other local business professionals. This is a great way to make local contacts and form business partnerships.
By attending these events regularly and introducing yourself to other business owners in your industry, you will have a better chance to build a professional network immediately.
It Gives You And Your Business Credibility
One of the exciting things about being a member of a chamber of commerce is the pedigree that comes with it.
Throughout the United States, the concept of a chamber of commerce has been well-established for over a hundred years. When you belong to a chamber of commerce, you leverage its centuries of credibility.
For instance, profile pages like this one with a chamber of commerce logo in the footer of a website instantly add credibility to the business it represents.
Although you must still get some goodwill by providing value through your business, remember, people do business with who they trust or are referred by a trusted source.
You Get Access To Unlimited Prospects
A business without a steady stream of prospects is a sitting duck. There can never be too many potential clients or customers for a business to thrive and grow.
One of the perks of a chamber of commerce membership is meeting people from different avenues of life and business which may become future customers or clients for your business.
Many people who attend chambers of commerce events know that it is about networking and growing your business.
So, they are likely to be receptive if you share something about your business during the meeting or after. The plus side of this is that the gathering has helped you break the ice.
It Is A FREE Marketing Channel
Your marketing budget already places you at a disadvantage as a small business owner. Therefore, any opportunity to market your business for free is always welcome.
A chamber of commerce membership is one of those avenues that can give you a free marketing channel for your business.
Chambers of commerce serve as an information hub for local consumers. As a result of having access to the list of other business owners, you can also promote business to business through free promotion.
How Can the Chamber Of Commerce Help Your Business?
Joining the Chamber Of Commerce comes with varied benefits for small businesses. You get access to the business network that helps you with all the information you need to grow.
Here are the benefits you can reap by being a part of the Chamber of Commerce.
- Resources: The members of the Chamber seek to help other members to grow and thrive. They provide the needed resources and opportunities to ensure small businesses are able to compete in the market.
- Mailing List: Every member of the Chamber has a directory of the mailing list of different members. By being in the network, you get access to the list and get the chance to expand your network.
- More Exposure: Being a chamber member gives your business more exposure to the market and helps you know what other things are happening in the different industries. The members of the Chamber socialize with the businesses and offer each other business website links on theirs to promote each other.
- Credibility: Participating in the meetings of the Chamber Of Commerce gives you and your business additional credibility. You can use this to market your business further and boost brand identity.
The Bottom Line
Even though everything, including business networking, is going digital, there is nothing like meeting someone face-to-face to build trust and gain insight.
If you are a part of a local chamber of commerce, I highly recommend you attend both the business and social events hosted by your chamber of commerce. And if you are not, then join a chamber of commerce today!