SS2 Commerce Lesson Note on Chamber of Commerce

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CHAMBER OF COMMERCE: AIMS, FUNCTIONS, AND STRUCTURE

Meaning of chambers of commerce

This is an association of merchants, manufacturers, business executives, tradesmen, entrepreneurs etc. From different commercial fields or various lines of trade or businesses, who agree to come together in a town or city with the aim of representing and protecting their business interest.

Examples of chamber of commerce includes

1. Nigerian-American Chamber of Commerce
2. Lagos Chambers of commerce
3. Ibadan Chambers of Commerce
4. London Chamber of commerce
5. Oyo chamber of commerce

Aims and objectives of chambers of commerce

Any chamber of commerce is set-up to:

1. Promote commercial activities in a place, community, town or country
2. Liaise with other chambers of commerce in relation to their business interest
3. To influence the policy of the government relating to commercial activities in an area.
4. To further business interest of the area.

Functions of chambers of commerce

The following are the functions of chambers of commerce

1. To promote trade and industry in the country to settle dispute among members
2. To settle dispute among members
3. To issue certificate of origin of goods to members
4. To provide education and training for industry and commerce
5. To provide information on regulations about travels and sample
6. To disseminate information on taxes on goods and profit
7. To act as agents for the collection of debts in foreign countries
8. To evaluate customs duties and regulations and the documents needed by the importing country.
9. To organize local and international trade fairs for the exhibition, advertisement of local products and the meeting of indigenous and foreign entrepreneurs.

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