Trade Associations Keep Growing

Nearly 60 percent of small-business owners belong to at least one trade organization, according to a new survey conducted by the National Federation of Independent Business (NFIB).

“It appears that the information small-business owners get and the other benefits they receive from their associations are factors in successfully growing a business," notes NFIB Senior Research Fellow William J. Dennis, Jr.

“Sometimes, these organizations are the only places where small businesses can find the current, industry-specific information they need.”

Of trade-association members who responded to the questionaire, 24 percent sought to keep abreast of new technologies. A similar number, 23 percent, said that specific industry news was the greatest incentive to join. A further, 22 percent cited access to information about relevant laws and regulations as their chief reason for joining, and 18 percent were after the latest information on customers and market trends.

Although getting information was by far the most commonly reported key reason small-business owners joined trade associations, it was not the only benefit that they gleaned. According to the NFIB, a large number said they also take advantage of continuing education programs and networking opportunities.

Source: BusinessWeek