Submitted by Peggy Richard
The Dearborn Area Chamber of Commerce will launch its first cash mob event on Aug. 20.
On the 20th of every month, the chamber will select one business to "mob." At a predetermined time, consumers are encouraged, through social media notices, to show up with cash in hand to support that business by buying its products and services. Each participant is asked to spend a previously agreed upon amount, usually $20.
The "buy local" movement continues to generate incredible momentum for small businesses, and the chamber wants to infuse some of that excitement into the business climate of Dearborn and Dearborn Heights.
Other local businesses benefit as well when cash mobbers head into town for food, drinks and good times after a successful event. These community-wide events also rekindle old friendships while providing the opportunity to make many new ones to create a more vibrant and connected community.
“Small business success is critical to the nation's overall economy,” said Wendy Fichter, director of small business development.
“According to the U.S. Small Business Administration, there were nearly 28 million small businesses in the United States last year, and over the past two decades, they've created 65 percent of new jobs. Their importance to local communities extends even further. According to the small business advocacy group, The 350 Project, for every $100 spent in locally-owned, independent stores, $68 returns to the community through taxes, payroll and other expenditures," Fichter said.
Those who participate in cash mobs come from all walks of life, but all have a strong "shop local/buy local" conviction. Not only do cash mob events give needed revenue to the local small business on the chosen day, but they also tend to generate long-term customers who perhaps were not previously aware of the store's offerings.