Functions of Trade Association
The co-operative organization, committee or associates which are created by the business people engaged in the same of business or industry with a view to extend their business, removing barriers, saving self-interest and the overall development. The association of this type formed by the producers or manufacturers is also known as the trade association.
The trade associations perform the following functions:
- Helping the members by publishing reports on the market price of the product and other market conditions.
- Trying to remove harmful competition among the members and try to introduce constructive competition and improve the quality of the product.
- Making the arrangements for the same type of price and production cost measurement in all the member organization.
- Action as an arbitrator in case of solving conflicts between the members.
- It also provides the member with necessary information about the product and the competitive product.
- Providing various price reduction facilities in case of productions and distributions.
- Acting as a representative to the Govt. and gives the advice to improve the related sector.
- Helping the govt. by formulating trade policies.
- Playing the important role in case of maintaining harmonic relation between the employer and employees.
- Assisting in establishing positive relations between the organization and the buyers and the general citizens.
Thus the trade associations are engaged in solving various problems in their related in doctrinal, sector and in preventing any further problem to arise. They also help in the overall industrial development of the country.