Characteristics of Chamber of Commerce
The Chamber of Commerce is formed by the several business people to the target goal achievement and which is the non-commercial organization. There are some characteristics of chamber of commerce as the co-operative organization to the overall trade and the investment toward the making of strong business background. The main features of chamber of commerce are described below:
- Voluntary Membership
People become its members at their own will. It is not compulsory rather the voluntary membership. If any member makes fault then the membership may be restricted for temporarily or permanently.
- Diversified Nature of Members
The members arc various industrialist, lawyers, bankers, auditors, insurers etc. They come from various organizations. Some are also rivals to each other. So, these are a variety of members.
- Non-profit and non-commercial organization
Chamber of commerce works for the general welfare of the members and helping the trade and industries of its area and not for any commercial benefit or profit.
Chamber of commerce is formed as a liability limited by guarantee, joint capital company under Company Act-1994 of that country.
- Fund Sources
Chamber of commerce forms the fund from the monthly or yearly subscription of the members and from the admission fee. All the financing of all activities of the chamber of commerce is then done by the fund.
- The member’s organization, remain free
The chamber of commerce does not interfere on the internal management and administration of the organizations owned by the members. It only helps in carrying out the business properly and provides guidance.
- Levels of Organization
The three levels of chambers of commerce are Local chamber of commerce, Regional Chamber Of Commerce, and National chamber of commerce.
- Private organization
In most of the countries such as Bangladesh. India, UK, USA etc. the chamber of commerce is private. But in some countries it is formed by the Government as in France.