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In The Loop Group

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Lagos Chamber Of Commerce V Registrar Of Companies

This guide explores the business value and ROI of joining a chamber of commerce. Small business owners and entrepreneurs often overlook chambers of commerce out of unfamiliarity or a lack of understanding. However, this guide provides a useful introduction to the benefits of joining a chapter an organization, the fees and choices available to business owners, and how to become a chamber member.

lagos chamber of commerce v registrar of companies

A chamber of commerce is an organization of businesses operating as a 501(c)6 organization. Chambers of commerce seek to further their collective business interests while advancing the economic well-being of their community, region, state, or nation.

While a chamber of commerce works with the government, it is not a government entity. A chamber will often lobby the government at the local, state, or national levels to ensure their legislative agenda gets represented. Chambers operate as individual organizations and do not receive any government funding.

Today, there are 4,000 chambers and volunteer organizations in the U.S. advocating for a variety of issues, including tax policies, legal reform, and economic reform. Minority chambers provide additional resources to Hispanic, Asian, and Black business owners. While the guiding principles for each chamber of commerce vary, many of their goals center around economic development, prosperity, and employer community.

Joining a chamber of commerce provides businesses with access to resources, discounts, and relationships that enable them to save money, market their products, and streamline their processes.Both employees internal to individual chapters and members of chapters bring their own benefits to the total body. Whether your business is looking for B2B partners and sales, help with customer acquisition, or guidance on HR processes, a chamber of commerce can help.

The opportunity to network among local business owners, operators, and industry movers is one of the most appealing aspects of joining a chapter chamber of commerce. Examples of popular networking opportunities include:

Chambers of commerce offer a variety of partnership opportunities. Ambassador programs, for example, consist of chamber employees who work to help new members actively use the organization's services. In turn, members learn to market their products collaboratively.

When your business joins a chamber of commerce, the membership typically allows for a certain number of employees to also join. This enables individuals within your company access to the same people and resources that benefit you and your business.

A board of directors governs each chamber of commerce, overseeing the organization's strategies and policies. The board also manages daily affairs and updates the chamber's policies. Board members, also referred to as the executive council, are elected within each organization. Most chambers have an acting president and CEO, for example. Members of the board are elected based on their leadership experience, business background, and ability to execute the organization's goals.

A chamber of commerce can function at the local, state, regional, or national levels. Some chambers are even associated with specific neighborhoods within a community. Other organizations are formed to represent specific business interests. Examples of this include female business owner organizations or the National Black Chamber of Commerce.

Joining a chapter chamber of commerce is straightforward, starting with an application and dues payment. The real work is choosing which chapter organization best suits your needs and aligns with the economic policies you support.

Not every chamber of commerce chapter will fit your needs, and one might be a better fit than others. You can start by attending events open to nonmembers or by contacting current members. Each chapter organization will likely have a website with contact information and other information. You can use the following checklist to help you ask questions to determine which chapter chamber is best for you:

No one understands your business better than you do, and a chamber of commerce is a great resource for your business' success. For those unsure of where to start, the first thing to do is attend a few meetings. From there, you can ask other members (especially ones in the same industry as you) how they are involved and what opportunities are available.

Cisco Managed Services Nigeria Limited Western House, Tenth Floor 8 - 10, Broad Street Lagos Nigeria Registration number of the commercial register of the chamber of commerce: 33283209

As a member of the chamber of commerce, you will be listed in the chamber newsletter, and online directory, and will have the opportunity to be highlighted in other chamber publications. You also can grow your business by advertising with the chamber and sponsoring events. The chamber may also promote your grand opening/ ribbon-cutting ceremonies.

There are many Chambers of Commerce that exist on both the local and regional levels, and you should determine if it would be more advantageous to join your local chamber or regional chamber commerce, or both depending on your business size and scope.

A name containing the words "chamber of commerce" unless it is a company limited by guarantee. See section 30(1)(b) CAMA; LAGOS CHAMBER OF COMMERCE v REGISTRAR OF COMPANIES (1952) 14 WACA 197


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