As a small business owner, you may benefit from a community to support your business. Developing a network can help manage and grow your business operations. It can also teach you about running a small business.
One way to find a community in your area is by joining a chamber of commerce. But what is a chamber of commerce, and is joining one the right choice for your business?
This guide covers joining a chamber of commerce, including:
- What is a chamber of commerce?
- What are the pros and cons of joining a chamber of commerce?
- Where can you find your local chamber of commerce?
What is a chamber of commerce?
So, what is a chamber of commerce? It’s an organisation that works to promote and protect the interests and goals of small businesses. Business owners can join these associations to become part of the network to build relationships with their industry. These associations are often local or share a particular business interest.
Overall, chambers of commerce are there to fight for your business and help you succeed. They offer a supportive community to work towards your business goals.
What are the pros and cons of joining a chamber of commerce?
Once you know what a chamber of commerce is, you’ll understand how helpful it can be. But, there are a few pros and cons to consider before deciding if joining one is right for your business.
Joining a chamber of commerce can help you connect with relevant people. These networking opportunities will allow you to build relationships within your area and industry. As a result, you can learn more about trends in the industry and tips from other business owners.
Also, this networking can help you learn valuable information about running a business. You can build relationships with business owners in complementary markets. Then, use these relationships to earn referrals or create partnerships to reach your target audience better and find new clients.
Learn more for your business
A chamber of commerce community can help you learn more about your industry and about running a business in general. Apart from building beneficial relationships within the organisation, they also offer training courses and talks.
Access to discounts and mailing lists
As a chamber of commerce member, you may gain access to helpful information through access to mailing lists. You can also gain freebies and discounts from the organisation, which can help your business save money.
Grow your business audience
All in all, chambers of commerce can help you grow your business. Use the knowledge and network you can gain as a member to grow your business audience. Chambers of commerce give you an opportunity to interact with potential clients. It has your business’s best interest at heart and works to support your business’s success.
One thing you’ll need to consider before joining a chamber of commerce is the membership fees. Joining these organisations is not free, so you’ll have to consider your small business budget. Though they can help you support your business, it can also hurt your business if you don’t have the excess cash to join an association.
On top of the membership fees, joining a chamber of commerce also comes with a time commitment. It may come with events and responsibilities. Also, you’ll have to engage with the chamber of commerce and build relationships to get the most out of it.
If you’re struggling with time management for your small business, then you may not be able to donate free time to a chamber of commerce. As a result, it might not be worth joining one.
Conflicts and competitors
Other members within a chamber of commerce may run businesses that are competitors to yours. This may cause conflict within the chamber of commerce and make the organisation less helpful to your business. Instead of learning from and building relationships with other businesses, you might find yourself competing with other members.
Where can you find your local chamber of commerce?
Now that you know what a chamber of commerce is and if you should join one, you may want to find a chamber of commerce near you. First, consider what kind of chamber of commerce is right for you. There are regional, national, and international chambers of commerce.
To find your local chamber of commerce, start by going to the British Chamber of Commerce website. Today, they have 53 chambers of commerce in the UK, representing 73,000 businesses. In addition, you can find chambers of commerce outside of the British Chamber of Commerce network by searching Google for ones in your area.
When you find a chamber of commerce to join, check the membership fees and what the association can offer you. This will help you find the right one for your business.
Save time organising your finances
Once you join a chamber of commerce and start to grow your business, you’ll want to keep on top of your business finances.Thousands of business owners across the UK use the Countingup app to make their financial admin easier.
Countingup is the business current account with built-in accounting software that allows you to manage all your financial data in one place. With features like automatic expense categorisation, invoicing on the go, receipt capture tools, tax estimates, and cash flow insights, you can confidently keep on top of your business finances wherever you are.
You can also share your bookkeeping with your accountant instantly without worrying about duplication errors, data lags or inaccuracies. Seamless, simple, and straightforward!
Find out more here.