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CNN: ‘Cash Mobs’ Help Small Businesses

Cash Mob CNN e1329776517127 CNN: ‘Cash Mobs’ Help Small BusinessesWhile recent reports from The Economic Times illustrate that the U.S. economy is strengthening, some Americans are improving the economy in their community by taking matters into their own hands.

Several small business owners have benefitted from a new trend where people form “cash mobs” and flood neighborhood stores to purchase at least $20 worth of goods (each) to boost their local economy.

This new trend started by Cleveland-based attorney Andrew Samtoy, aims to become an integral part of the “shop local” movement that’s synonymous with Small Business Saturday (the Saturday after Thanksgiving).

Although the cash mobs movement originated in Cleveland, Samtoy’s Facebook friends have helped spur a nationwide movement starting cash mobs in the following states:

  • Texas
  • California
  • New Mexico
  • Illinois
  • Rhode Island
  • Oregon
  • South Carolina
  • New Jersey
  • Massachusetts
  • Maryland

The concept behind a cash mob is simple.  First, interested participants “like” or subscribe to their city’s cash mob Facebook page, such as the Detroit Cash Mob Facebook page.

Next, participants follow the directions and clues of the cash mob leader, via updates on Facebook and other social media forums.

After the date, time, and location is revealed, participants gather at the meeting location to discover which small business in the area they will mob to boost the local economy.

Cash mobs not only give Americans the power to financially uplift their communities, it also allows social network users who are passionate about contributing to their community the chance to meet each other face to face for future networking opportunities.

This new trend gives power back to the people of the community to both enlighten residents about small business in their area while also bolstering their local economy at the same time!

To watch the full video about the emergence of cash mobs, head over to CNN.

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About Jonathan Slappey

Jonathan has a passion for journalism, sports, and cashmere sweaters. He lists playing basketball as a higher priority than eating food, and rumor has it he even sleeps with his basketball. When he’s not reading up on world news, and writing about politics or personal finance, Jonathan can be found cheering on the Lions at Ford Field or attempting to convince Cleveland Cavaliers owner Dan Gilbert to add him to the active roster.

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