Question

10 difference between trade association and chamber of commerce

Answer 1

Explanation:

A trade association is often known by the trade or industry it represents, e.g., Indian Sugar Mills Associations, etc. On the other hand, the name of a chamber of commerce is decided after the name of a region or community, e.g., Bengal Chamber of Commerce, Marwari Chamber of Commerce, etc.

Answer 2

Answer:

The basic difference between a trade association and a chamber of commerce is that a trade association is a group of business firms in the same industry while the latter is the association of group of industries specific to a region.

Explanation:

1. Trade association is the group of business firms in the same industry or line of work,for e.g., All India Food grain Dealers’ Association and chamber of commerce is group of industries in same region, for e.g., Bengal chamber of commerce, etc.
2. The scope of a trade association is wider pertaining to the same line of work.
3. The interests of trade associations are usually in the same direction while that of a chamber of commerce might clash.
4. While members of a trade association are inevitably competitors, members of a chamber of commerce may or may not be so.
5. While the trade association seeks better trade and security, a chamber of commerce seeks only business.
6. Trade association may be formed from firms in different regions while it is not so in a chamber of commerce.
7. The trade association is named after the trade it is based upon while the chamber of commerce is associated with the region or community and thus named after it.
8. Chamber of commerce ensures increased exposure while trade association concerns specific knowledge.
9. Decision making in chamber of commerce is location specific while in trade associations it may not be so.
10. Networking opportunities in chambers of commerce are better as compared to trade associations.

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