Many chambers of commerce rely on membership fees as their primary source of revenue. Most chapters offer different levels of membership at different prices with different benefits for their members.
Each member is required to pay dues that help cover the general operating costs of the organization. Chambers may also hold fundraising events to raise additional funds or require special ticket purchases to attend their events.
Generally, chambers of commerce are designated as corporations for federal tax purposes.This classification allows chambers of commerce to operate as nonprofit organizations while giving them the authority to represent their members in policy matters.
Types of Chambers of Commerce
Chambers of commerce can take several different formats.
Regional, city and community chambers
Regional, city, and community chambers focus on regional or local issues related to cooperation with the local government, but may also promote broader initiatives that affect businesses that cross borders, such as facilitating trade between immigrant groups and their home country.
City Chambers
City chambers aim to promote the economic interests of the city locally and possibly globally.
State chambers
In the United States, state chambers focus on statewide and sometimes national advocacy, and therefore have a greater influence on regulations and legislation.
National or international chambers
National or international chambers focus on advocacy and lobbying on national or broader issues.
Mandatory chambers
In some countries, businesses of a certain size are required to join a chamber of commerce, which provides a certain level of self-regulation, as well as promotes member businesses, supports economic development, and oversees worker training. Such chambers are popular in Europe and Japan.
In some countries, chambers of commerce provide key The quarterly survey of UK chambers of commerce is used by the government to assess the state of the economy.
