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Today's Pick: Market economy
A market in my hometown is blending community involvement and creative financing to support the expansion of their store.
Brothers Jamey and Robert Lionette of Lionette’s Market in Boston’s South End are pitching their plan, dubbed a Community Supported Market, to their neighbors.The Boston Globe reports that:
“…People who invest $10,000 will get a two-year stipend of $125 per week at the store (for a total of $13,000 in food). For $5,000, investors get a $55 weekly stipend for two years; $2,500 gives investors a 10% discount on store items for two years…
As the US subprime collapse wreaks havoc on neighborhoods across the country, how refreshing to see financial innovation that strengthens rather than destabilizes community ties!
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Kathryn Fitzgerald @ MaRS
Kathryn provides market intelligence services to MaRS Advisory Services clients and to The Innovations Group at the University of Toronto. She is a graduate of the University of Toronto’s Faculty of Information.
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