The Business of the Chamber As I reflect back on my year as Treasurer, and begin my year as Vice Chair of the Board, I’m not only looking forward to serving the Chamber Membership as your Chair, but looking back on several years of service on the board. As a Chamber member you tend to look at what you can get from your Chamber membership. As a Board member your perspective changes dramatically. You suddenly realize that the Chamber is a significant business, with seven staff housed in an historic building, and an annual budget of nearly $700,000.
The revenue comes from a variety of sources:
membership fees
sponsorships
group travel
office rentals
solar panels on the roof
This diversity of revenue is typical of Chambers across the Country and serves to keep the annual membership fees low and the membership value high. Members typically join to support the advocacy/lobbying work we do, the marketing and promotion we can provide, and the education and professional development opportunities we offer. Whatever your reason, we truly appreciate your support of the Chamber.
As you can see by the 2018 Auditor’s Report, the Chamber has had a profitable year. This is encouraging as the Board and Staff are undergoing a significant review of the Chamber’s value proposition and communications strategy, and will be looking for ways to digitize appropriate products and services in order to reach more of our members with more value. To go into this process on a solid financial footing is important.
In summary, I’m honoured to have served the Chamber in the Treasurer’s role, and look forward to the continued success of this important organization.
Dawn Hennessey 2018 Treasurer Business Development Bank of Canada
