ShareThisDear Professor Bruce:I own a small local bakery. Friends have told me it's a good idea to join a chamber of commerce. What are the benefits? What are the costs?Answer: Many small and mid-size business owners, as well as corporations, understand the value of joining a local or state Chamber of Commerce. Membership brings a sense of unity to the business community. Typically, the mission of a local Chamber of Commerce is to promote in-town and area business through effective advertising, planned events, community service, networking and education, as well as to cultivate a favorable environment in which business, government, education and the community at-large can interact.A local Chamber is governed by an elected Board of Directors, which establishes goals, sets policy and promotes programs and projects that will benefit members.According to Karol McNulty, Executive Director of the Millburn-Short Hills Chamber of Commerce in Millburn, New Jersey, "While benefits may vary from locality to locality, there are some common denominators with respect to the benefits that most chambers provide." They include:- Providing members with valuable associations with other businesses and professionals. - Serving as a resource and reference center by providing demographic information to new and prospective businesses and residents.- Working to promote and maintain responsible economic development.- Offering numerous "value-added" marketing and networking opportunities to promote products and services, including:1. Listing businesses on highly-visited web sites and in business directories, community resource guides or Chamber-sponsored magazines or newsletters2. Offering "piggyback" mailing services that help members reduce costs3. Serving as an intermediary or partner when needing direct access to municipal officials or area legislators4. Developing opportunities for members to participate in civic/charitable functions or networking gatherings and themed events. Chambers of Commerce are not supported by tax dollars, nor are they affiliated with city, state or federal governments. As volunteer, not-for-profit organizations, Chambers rely on dues, revenues from special events and sponsorship donations to provide services to members. Check with a qualified financial professional to see if dues are tax deductible as a business expense. Business owners should research the benefits, opportunities and costs of individual state Chambers as they may vary throughout the country.For further information, please visit. www.millburnchamber.comBruce Freeman is president of ProLine Communications, a marketing and public relations firm in Livingston, NJ and an adjunct professor of marketing and entrepreneurship. E-mail questions to Bruce(at)SmallBusinessProf.com.
Does joining local Chamber of Commerce make sense?
Submitted by administrator on Wed, 12/12/2007 - 12:51
Paying taxes unites us. It also divides us. People can pay five and even six times more in state and local taxes than other folks in similar circumstances making similar incomes.
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