The primary objective of the street market is to stimulate economic opportunity for the working poor. Although economic inequality keeps poor families from ever achieving social stability or upward mobility, a street market can effectively narrow the gap in economic opportunity between the poor and rich. During the first year of operation, the street market will occur monthly on Saturdays.
Social and Economic Benefits
For users of the market, a street market:
- Directly gives vendors an opportunity to earn extra income;
- Minimizes financial risk and encourages persistence in entrepreneurial efforts by providing a venue for start-ups that incubates businesses;
- Reduces vendor susceptibility to and involvement in crime by providing an alternate, meaningful activity and source of income;
- Instills a sense of community spirit by encouraging social networking and mutual exchange of information between diverse groups of people; and
- Entertains consumers who find bargains and treasures while enjoying themselves in an atmosphere bustling with activity.
For non-users of the market, a street market:
- Addresses the need for vibrant and lively locations which can have spillover benefits on the surrounding area;
- Spurs the local economy because of vendors who will spend money on suppliers and at fixed-location stores outside the market;
- Creates jobs and generates income from newly formed businesses;
- Addresses problems associated with street peddling; and
- Reduces crime and criminal justice system expenditures.
http://stlstreetmarket.org/index.html for more information
