Theory question 103
Trade Associations(a) Differentiate between a trade association and a chamber of commerce.
(b) State four functions of a chamber of commerce.
(c) State four functions of an employers' association.
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(a) A trade association is formed by firms in the same line of trade or industry to protect their common interests; a chamber of commerce is formed by businesses of all kinds (traders, manufacturers, bankers, farmers etc.) in a particular area to promote commerce and industry there.
(b) Any four: represents members before government; gives information on trade and markets to members; organises trade fairs and exhibitions; settles disputes among members (arbitration); issues certificates of origin; promotes trade links with other countries; advises government on economic policies.
(c) Any four: negotiates wages and conditions with trade unions (collective bargaining); represents employers in disputes and at industrial courts; acts as a pressure group on government policies; advises members on labour laws and industrial relations; collects and gives statistics to members; trains members' staff and managers.
Trade association = one trade; chamber of commerce = many trades in one area.