(5) The term minority chamber of commerce means a special chamber of trade specially designed to support minority business enterprises in a variety of trades and industries. Minority chamber of commerce was first established in 1938 by the Federal Trade Commission in order to protect the interests of minorities. This is a special body that sets aside a part of the annual budget for grants to these business organizations. They are not given government funding.
It’s an organization that tries to develop the growth of a small community business enterprise and help it develop. There are also minority cooperative programs that help the local minority people get jobs or start their own business enterprise. Majority owners of these minority owned business enterprise typically belong to one of the following four ethnic groups: African-Americans, Hispanics, Asians, and Americans. This special board of trade and business associations aims to set up a system that will help these minority people achieve economic stability and success.
Why should a minority member be concerned about his/her economic future and the prospects for that future in a growing economy? The Chamber of Commerce will help minority businessmen develop their venture; they will provide them with technical assistance, leadership, and counsel. The goal of a Chamber of Commerce is to secure more funds for these ventures so that they will have enough funds to hire experts, buy equipment, hire workers, and get marketing help. The Chamber of Commerce is an important instrument that will help minority people realize their dreams of owning a business enterprise and live the life that they have only imagined. Minority persons need to join the Chamber of Commerce if they want to make a difference in the world.
Minority persons belong to different categories – religious-based, ethnic, age, sex, handicap, or any other classification. Having a Chamber of Commerce provides equal opportunity to all its members regardless of those members’ background. This makes the Chamber of Commerce one of the most valuable organizations for minority people as well as businesses.
A business enterprise that is willing to hire minority persons as members of its staff and as partners should look for a Chamber of Commerce. If you are planning to set up a new business, why not join a Chamber of Commerce. You will find many willing participants eager to work with you. So what are you waiting for?