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    Business & Professional Associations Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 3/22/2021
    SIC Codes: 8611, 8621
    NAICS Codes: 81391, 81392
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Business & Professional Associations Industry Profile

    Companies in this industry promote the business and professional interests of members. Major associations include the American Bar Association, the American Medical Association, the National Association of Realtors, and the US Chamber of Commerce (all based in the US), as well as the Architects' Council of Europe (Belgium) and the Medical Protection Society (the UK).

    Many business associations generally operate within a single country or region of the world, though some have divisions abroad to promote information sharing across borders. The growing importance cross-border growth has led to increased efforts to focus on international issues. Many associations actively advocate for foreign trade policies that benefit their industries.

    The US business and professional associations industry includes about 23,000 establishments (single locations and units of multi-location organizations) with combined annual revenue of about $50 billion.

    COMPETITIVE LANDSCAPE

    Demand is driven by business expansion and job growth. The profitability of individual associations depends on the ability to expand dues-paying membership. Large associations have economies of scale in marketing. Small associations can appeal to businesses or professionals in niche industries or serve local markets. The US industry is fragmented: the top 50 business associations account for about 25% of revenue; the 50 largest professional organizations account for about 33% of revenue.

    PRODUCTS, OPERATIONS & TECHNOLOGY

    Major sources of revenue include membership dues; conferences, meetings, and trade shows; and publications, certification and training materials. Additional revenue sources may include contributions, grants, and investment ...

     
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