Week two lesson
TOPIC: TRADE ASSOCIATIONS AND OTHER ENTERPRISES
MEANING OF TRADE ASSOCIATION: Trade association is an association of traders or producers engaged in the same line of trade, whose major aim is to protect and safeguard the interest of their members as well as their businesses. It is a group of firms in the same trade. Membership of trade association is voluntary. It is financed from subscription paid by the members. Some examples of trade associations include: garri sellers association, tailors association, yam sellers association, taxi drivers association, etc.
Aims and Objectives of Trade Associations
(1). To ensure that members provide good quality services.
(2). To ensure that members charge uniform price.
(3). To maintain professional ethics of their line of trade.
(4). To supply members with information about developments in their line of trade.
(5). To create uniformity in the way their members deal with people.
CHAMBER OF COMMERCE: This is an association of merchants, manufacturers and businessmen from different commercial fields or various line of businesses who agree to come together in a town or city with the aim of representing and protecting their business interest. This is not restricted to a particular trade. There are national and international Chambers of commerce such as:
(1). London chamber of commerce.
(2). International chamber of commerce.
(3). Lagos chamber of commerce.
(4). Ijebu chamber of commerce.
(5). Ibandan Chamber of commerce.
(6). Oyo chamber of commerce.
(7). Nigerian-American chamber of commerce.
(8). Owerri chamber of commerce.
Aims and Objectives of Chamber of Commerce
(1). To promote commercial activities in a community, country or town.
(2). To liase 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.
MANUFACTURING ASSOCIATION: This is an association of business executives or entrepreneurs in a city, town or country that have common interest in the manufacturing of goods and other commodities e.g. the Manufacturer’s Association of Nigeria (MAN).
(1). State five functions of the following:
(i). Trade Association.
(ii). Chamber of commerce.
(iii). Manufacturing Association.
Submit the assignment on Wednesday 27th May. Submit to my WhatsApp page: 08062433021.
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