Functions 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. Chamber of commerce performs various functions for the welfare of trade and commerce of a country. It plays important role in development of industries in a country. The function of chamber of commerce is as follows:
Protecting the interest of the Member- The most, important function of the Chamber of Commerce is to protect and maintain the member’s interest. With this view it advises the members in business related topics. It also puts that claims of the members to the Govt. and influence the Govt. in fulfilling them.
Development of trade, commerce and industry: All the functions of the chamber of commerce result in the development of trade commerce and industry of its area. It helps the business in its area, provides advice to all with a view to developing the industrial sector of the country.
Removing odd or unfair competitions- The chamber of commerce tries to eradicate any unequal or harmful competition among the member organizations and to keep the market of that product static. This ensures the existence of small factories and supports the large organizations.
Creating and Maintaining Favorable Business Environment– One of the important functions of the chamber of commerce is to create a proper and friendly business environment and to maintain it. It discusses to the Govt and undertakes different structured steps to create a business environment.
Act as a Representative- The chamber of commerce acts as a delegate or representative of its members. It places various claims to the Govt. It also acts as a representative in caw of foreign trade.
Government Advisor- The chamber of commerce advises the Govt. in case of forming the industrial law, business law, import and export regulations, budget etc. It supplies important information about the business and commerce of the country for assistance.
Developing busies education and training- To make more skilled business persons and to create new entrepreneurs, the chamber of commerce arranges various types of short term and long term courses and training programs. This helps in increasing the skill and introduction of new techniques.
Act as an arbitrator: The chamber of commerce acts as an arbitrator in case of any conflict on problem between the members. This develops a harmony among the members.
Developing Foreign Trade: The chamber of commerce attracts foreign investors by giving them various advises and counseling. It also accepts the foreign bill of exchange formed on its members.
Except these activities chamber of commerce conducts various welfare activities like establishing libraries, school, college, training centers etc.