00
Days
00
Hours
00
Minutes
00
Seconds
Sign up to our webinar! ‘Future Planning for your clients... AND charging for it’
Register Now

What is a Chamber of Commerce and what is its role?

Read our guide to what a Chamber of Commerce is, how it works, and how it can help your business grow and succeed.

As a business owner, you might have come across or heard of the Chamber of Commerce. A national chamber of commerce can significantly impact businesses. Keep reading for our guide to what a Chamber of Commerce is, how it works, and how it can help your business grow and succeed.

Definition of a Chamber of Commerce

A Chamber of Commerce, sometimes referred to as a Board of Trade, is a body made up of business owners. While it does not create laws or regulations, such Chambers tend to have a great influence on legislators when it comes to lobbying. The Chamber members network with each other and help guide legislation on business matters in their region. This often means supporting legislation that enables small businesses through eg programs, campaigns, and schemes. They are seen as authoritative figures in the business landscape.

Of course, for local business owners, being in the Chamber of Commerce can bring significant advantages. Being a member can provide networking opportunities and allow for a business to influence legislation and become part of a community of member businesses. Also, members are listed in a valuable members directory and often benefit from exclusive deals or discounts from fellow members.

Chairs and desks in old chamber
A Chamber of Commerce, sometimes referred to as a Board of Trade, is a body made up of business owners.

Chamber of Commerce Example

Let us have a look at a practical example of a chamber of commerce.

The British Chambers of Commerce (BCC) were formed in 1860. It is made up of 53 Accredited Chambers and counts c. 100,000 members with over 5,000,000 employees.

The different Chambers are scattered around the United Kingdom. Each local chapter is a key asset for business growth in their local community. The London Chamber of Commerce & Industry is the largest of the community Chambers.

The BCC's purpose is to support local businesses, provide resources for business growth, and enable relationships in the local business community. It also provides a connection point between businesses and state and local government. The BCC does not focus on a specific area of business or sector - any business can use the Chamber to seek support, influence legislation, or use networking opportunities.

If a business, for example, has a concern, they can raise it with their local Chamber. They then discuss the concern and possibly address it with the local Council or even take it to the BCC and thereby a national level. The BCC could then raise the concern with national policymakers.

The British Chambers of Commerce (BCC) were formed in 1860.

How does the Chamber of Commerce work?

Chambers of Commerce have regular meetings. The BCC holds an annual conference in Westminster. These events are often attended by senior politicians and business leaders. In some cases, high-ranking members of the BCC will also be invited to offer perspectives on business-related matters in Parliamentary Committees.

Westminster tube sign
The BCC holds an annual conference in Westminster.
Watch the Webinar Recording

Start Your Free Trial

Let informed predictions and powerful reporting guide your business. Be ahead of the curve with Futrli.

Get business advice here

Our blog holds tips, how to’s and general business advice.

Futrli News

Futrli's February 2024 Release

This is some text inside of a div block.

Heading

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat.

Futrli News

Futrli's February 2024 Release

Accountants

3 Apps to beat accounting blues and scale your firm

Chris Downing catches up with three accounting app innovators to discuss the apps that they have developed that directly help accountants.

Accountants

Where most prediction software falls short

Tread carefully when looking for prediction software. Find out how to dig deeper into your predictions with the tools that count.

Small Businesses

Cash is King! 4 ways to keep your cash flow healthy.

Cash flow is essential to your business’ survival. Read our top 4 tips for taking control of your cash flow.

Small Businesses

10 Common Cash Flow Forecast Hurdles

If there’s one thing that all small and medium-sized enterprises should prioritise, it’s their cash flow. Read on to find out the top 10 most common issues.

Accountants

Empowering Accountants: How to Embrace Uncertainty with Futrli

The future is far from certain. Find out how Futrli helps accountants wade their way through murky, grey, “This might happen”-type scenarios.

Small Businesses

Inflation affecting your hospitality business? Take back control with these three steps.

Acting quickly is key to ensure you can ride out the incoming storm. Find out more in this article.

Small Businesses

Why cash flow forecasting helps businesses survive downturns in trade

Learn how cash flow forecasting is crucial for surviving slower trading periods.

Accountants

The 7 reasons why SMEs struggle with cash flow management

Find out the 7 major reasons why your clients’ businesses struggle to achieve a positive, healthy, consistent cash flow.

Accountants

Take clients from compliance to scenario planning in five steps

Scenario planning helps your clients imagine different environments or realities in the future, guiding the plans and decisions your clients make.

Accountants

Flash reports and why to build them

This short guide covers what Flash Reports are and how you could use them as a speedy solution for your clients’ reporting needs.

Small Businesses

Head of Accounting and Futrli COO discuss challenges and solutions for small businesses.

Read Dan and Helen’s thoughts on how SMEs can protect themselves during what is set to be a challenging year.