Sheffield Chamber of Commerce says it is now on target to generate a surplus by 2014, after recording a loss of almost £250,000 in its last financial year.
Executive director Richard Wright said: “The annual results are in line with what we expected.
“We know we have turned the corner and fully expect the group to show positive numbers this financial year.
“Our focus is on recovering the balance sheet and that will take a little more time.”
Lawyer Stephen Williams is to become the next chamber president. Mr Williams, a property and relocation solicitor for Lupton Fawcett Lee & Priestley, will take over from Sheffield Business Park-based Siemens Metals Technologies director Jon Stewart.
PwC director David Thurkettle will become senior vice-president and Jillian Thomas, managing director of Future Life Wealth Management, will become junior-vice president, en route to becoming the chamber’s second-ever female president in 2015.