Board of trade organizations of Surrey, South Surrey, and White Rock to merge
This week, the two organizations of the Surrey Board of Trade and the South Surrey & White Rock Chamber of Commerce announced they will explore a merger into one entity.
According to a release, the resulting new expanded organization covering a much larger geographical footprint in Metro Vancouver’s sub-area of the South of Fraser will be called the “Surrey & White Rock Board of Trade.”
This follows the unanimous approval of each of the board of directors governing both existing organizations, with discussions on a merger first beginning in the middle of 2023.
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A merger task force has been created to complete legal and due diligence requirements. Based on the recommendations of the task force, if the merger is deemed to be feasible, the membership of each organization will vote to determine a final decision.
“Both organizations have similar values and a long-standing commitment to serving the business community. Together, there is significant room to create organizational efficiencies and strengthen the value they bring to members and the business community at large,” reads a statement.
Very different from business improvement associations, board of trade or chamber of commerce entities advocate for the broader business and economic interests of their business-based membership, including foreign investment, and perform research, outreach, and education.
According to a release, the rationale for the merger includes expanded exposure, reach, networking, and marketing opportunities, as well as cost savings for members (one membership fee instead of two) and more optimal use of board of trade financial resources and administration.
It would also give Surrey, South Surrey, and White Rock “even more substantial influence and collective voice on local, provincial, and national matters related to business, economic development planning, and international trade.”
A physical office and presence in White Rock and South Surrey will still be maintained. Surrey Board of Trade’s office is located at 14439 104 Avenue just west of Surrey City Centre, while South Surrey & White Rock Chamber of Commerce’s office is at 1480 Foster St just south of Semiahmoo Shopping Centre.
The 1918-founded Surrey Board of Trade represents 6,000 business members who employ over 60,000 employees, and the 1937-founded South Surrey & White Rock Chamber of Commerce has 500 members.
In contrast, the Greater Vancouver Board of Trade based in downtown Vancouver has over 5,000 business members.
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