Question

difference between chambers of commerce and trading association's

Answer 1

hello,
Here is your answer

Difference between chambers of commerce and trading association s

on the basis of Structure:

A trade association contains business firms operating in different regions as it is organised on trade basis. A chamber of commerce is often organised on regional basis, and, therefore, its members are located in a particular region or country.

on the basis of Name:

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

• A trade association is a voluntary association of persons belonging to the same trade or industry. It may be organised on the basis of regions also. It is a non-profit body established to protect and promote the interests of a particular trade or industry.
• Indian Jute Mills Association, Indian Sugar Mills Association, All India Food grain Dealers’ Association, Bombay Mill Owners’ Association are examples of trade associations.
• Both Chambers of commerce and trade associations are voluntary and non-profit organisations of businessmen.
• They perform by and large similar functions.

But there are following differences between them.

1. Scope:

• A trade association consists of business firms operating in the same industry, or trade.
• On the other hand, a chamber of commerce includes business firms operating in different fields of business activity.
• Thus, it is wider in scope than a trade association.

2. Nature of member-firms:

• The various firms which constitute a trade association are essentially competitors.
• But all member-firms in a chamber of commerce are not competitors.

3. Representation:

• A chamber of commerce represents the interests of business community in general while a trade association seeks to protect and promote the interests of a particular trade or industry.

4. Structure:

• A trade association contains business firms operating in different regions as it is organised on trade basis.
• A chamber of commerce is often organised on regional basis, and, therefore, its members are located in a particular region or country.

5. Name:

• 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.

#SPJ2