Under the agreement, which began in 2007, BOSS outsourced its administration, support, products and services to BPIF but the two trade associations retained their separate legal status with two separate boards of directors.

BOSS’s 1,300 members have access to BPIF products and services such as HR, health and safety, legal advice and training.

As part of the arrangement the BPIF marketing team launched two new membership magazines on behalf of BOSS, including BOSS Today and BOSS Today Xtra.

It has also launched BOSS Members’ Day, which is open to all members and was attended by over 90 chief executives this year.

BPIF president Tony Garnish said: "With the renewal of this contract we have all agreed a new three-year membership retention and growth strategy which will be implemented during this contract period and fully supported by BOSS, BPIF and the regional boards."