If you’re looking for new business opportunities, you may have considered joining your local chamber of commerce. Let’s look at five reasons why joining a chamber of commerce can benefit your business and how to maximize your membership.
Benefits of joining your local chamber of commerce
It helps you make business contacts
When you decide to join a local chamber, you open your business to a network of potential partnerships. Business contacts from your local chamber could become the supportive community you turn to one day for assistance or vice versa. In addition, your new business contacts may be the people who serve as your sounding board for new ideas, come up with solutions to internal business problems, and even partner with you on a new endeavor.
It increases your credibility
Joining your local chamber of commerce could give you more credibility with potential customers. One study found that 63% of customers have a higher opinion of businesses that are chamber of commerce members.
As your business's positive perception increases, so will your profits as you establish credibility and brand recognition within your industry. Your membership dues could pay for themselves, thanks to the influx in your consumer base.
It increases your visibility
As your local chamber continues to grow, so will your visibility in the community. Most chambers of commerce hold monthly networking opportunities, allowing you to meet other professionals in your area.
While the types of events will vary, each will allow you to make new connections and gain exposure for your business. Your local chamber may provide additional marketing opportunities by highlighting your company on its newsletter, website, or social media platforms.
It provides key business resources
Many chambers of commerce also offer financial resources. For example, your chamber can provide financial aid when your business is going through a crisis. You may also be able to access low-cost loans or grants.
Your membership may include additional perks, like discounts on certain products or services. Some chambers of commerce even provide access to affordable health care or business insurance.
It supports your professional development
In addition to networking events, chambers often hold events and training sessions focusing on professional development. These opportunities are affordable ways to improve your skills and increase your knowledge. The chamber’s professional development opportunities will help your business make necessary changes and share its expertise with others.
Many chambers of commerce also offer financial resources. For example, your chamber can provide financial aid when your business is going through a crisis. You may also be able to access low-cost loans or grants.
How to join a local chamber
If you’re ready to join your local chamber of commerce, you can find the nearest one using the U.S. Chamber of Commerce’s national directory. Some states and territories have hundreds of individual chambers, while others just have a few. If you live just outside a large metro area like New York City, Los Angeles, or Chicago, it may be worthwhile to join that chamber to gain access to its extensive resources and networking opportunities.
Once you’ve located your nearest chamber, you can visit its website to fill out an application form and pay any required fees. Form fields and membership fees may vary by chamber. After being accepted as a member, you can start taking advantage of everything your membership offers.
How to maximize your chamber membership
Your chamber of commerce membership is only valuable if you take advantage of all the benefits it has to offer. Here are four ways you can maximize your membership:
- Know why you joined: It’s important to understand what you hope to get from your chamber of commerce membership. Do you want to connect with like-minded entrepreneurs, or do you want more visibility for your business? Understanding your primary motivation will help you determine which events and resources to take advantage of.
- Pay for your employees to join: Many chambers of commerce offer a company membership, which allows your staff to take advantage of the benefits. Including your staff is a great way to boost employee morale and offer new professional development opportunities.
- Take advantage of every marketing opportunity: After joining your local chamber, take advantage of every opportunity you can find to promote your business. Most chambers offer different ways to market your company and generate new leads for your business.
- Participate regularly: Finally, make sure you regularly attend events and make a point to get to know other members. You might also consider volunteering for a committee or sponsoring an event the chamber is hosting.
This article was originally written by Kaytlyn Smith.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
