What is the advantage and disadvantage of trade association?

Answer 1

Trade associations provide several advantages, such as fostering collaboration among industry members, offering resources and support for best practices, and advocating for the interests of their sector to policymakers. However, a disadvantage is that they may inadvertently promote a one-size-fits-all approach, which can stifle innovation and limit the diversity of perspectives within the industry. Additionally, membership fees can be a financial burden for smaller businesses.