Why trade associations are more relevant than ever

The past few years have certainly provided us all with a generous number of curve balls. Every industry has faced a series of highs and lows to varying degrees, and the global landscape has proven to be unpredictable terrain.  Many business leaders are asking how they can ensure success, navigate uncertainty and pivot with the ever-changing global climate in the year ahead. Many may not have considered how a trade association could help them to do so.

Trade associations are important for a number of reasons. They play a crucial role in supporting and advancing the interests of their member businesses and the industries they represent.

Education, Expertise and Encouragement

The three Es – a three-word summary of what every trade association aims to offer its members. It might seem a bit simplistic, but they are three elements that companies definitely need when they’re buckling themselves in to weather economic storms.

1.      Education

Trade associations can offer a wealth of information and resources – mostly stored online and easily accessible. These resources can include offerings such as up to date research and data, publications, online resources, and events to keep their members informed about developments in their industry. We also help members on specific needs – so it’s worth having your trade association as your first port of call if you need to compile a new industry report.

2.      Expertise

Trade associations are positioned to collect and analyse shared knowledge and deliver it to members in a way that provides them with a competitive advantage. Trade associations can also provide advice on legal and financial matters. Not to mention they can help ensure members are kept in the loop regarding ever-changing government guidelines, rules and regulations.

3.      Encouragement

Good trade associations provide a sense of community and comradery. Its members support and encourage each other and work to make each other and the industry better – through awards, roundtables, webinars and seminars. The connections formed and relationships developed through being part of a trade association are paramount to businesses that thrive.

The collective voice

Trade associations provide a platform for businesses in a particular industry to come together and work towards common goals. This can include lobbying for policies that are beneficial to the industry. For example, at the Flexible Space Association( FlexSA), we recently launched a campaign to promote what we offer, and the core message is that we’re “stronger together”. Never is that truer than when we’re lobbying, as we’re doing at the moment, on changes to business rates. Trade associations are able to lobby on behalf of a whole industry, which elevates the case from being a more commercially-focused one by individual businesses.

Building trust

Being a member of a reputable trade association can provide your customers with peace of mind. By being a member, you demonstrate that you are part of a group of reliable and professional businesses, and that your values and conduct align with those of other trustworthy businesses. At FlexSA, new association members are advised of the Code of Conduct as soon as they express an interest in joining, and each year when their membership is renewed companies are reminded that by continuing to be a member of the association they continue to be signed up to these tenets.

Becoming a member of a trade association also helps to raise the voice of your business. Trade associations are proud of their members and want to play a part in promoting you and what you do. They can share your business news, include you in media pushes and spread the word of your achievements even further.  They also enable you to be part of making change within your industry through activities like the lobbying previously mentioned.

Trade associations sit at the heart of their industry and membership can elevate your business to new levels. They’re not immune to financial pressures – in fact, we’re one of a number of bodies offering reduced membership this year, to ensure as many people as possible can benefit from what we offer in difficult times. To make the most of trade associations, it’s critical to actively participate in the work they’re doing and make use of the ample resources and connections on offer.

Jane Sartin is executive director of the Flexible Space Association (FlexSA)