Originally published in the Mississippi Business Journal. Permission to reprint with attribution to Mississippi Business Journal and Phil Hardwick.

THIS LITTLE DOLLAR STAYED HOME

This is a tale of two dollars. One stayed at home. One went to another town.

Once upon a time there were two dollars. They each lived with their owners in the small town of Make Believe in rural Mississippi. Make Believe was a nice little town. There was a Main Street that had lots of little shops that sold special items and arts and crafts and catered to people who drove through town. There was also a grocery store. There was even a doctor in Make Believe. It was a nice little town that was enjoyed by all its residents, none of whom wanted it to change.

This story of the first dollar is easy to tell. Its owner placed it snugly in her purse and drove 45 minutes to a nearby, larger town with a shopping mall. The owner stayed all day at the mall and spent the entire dollar on things bought in stores owned by big corporations in faraway states.

Part of the first little dollar stayed in that town and part of it went to the state government, but most of it went by electronic magic to another state. At the end of the day, the owner went back to Make Believe with all her treasures. Not one penny of the first dollar ever saw Make Believe, Miss., again.

The story of the second dollar is much different. The owner of the second dollar went to a little shop in downtown Make Believe. There the owner talked a long time to the shop owner about the beautiful merchandise in the store.

The shopkeeper told all about the things that were made right there in Make Believe. There were birdhouses built by Bob, beveled glass made by Beverly, blouses of silk designed by Betty, mocha chocolates by Missy, and even silverware crafted by Sam.

This owner of the dollar spent the entire dollar right there in the shop. The journey of the second dollar was much different from that of the first dollar. Yes, the first 7 cents arrived at the government in Jackson. One penny was sent back to the local town. So one penny of the sales tax came back to the Make Believe City Hall.

The owner of the shop took the next 50 cents and sent it to the manufacturers of the items that were bought. Because all of them lived right there in Make Believe, the 50 cents stayed there.

The next 16 cents went to the employee of the shop owner. Yes, you guessed it; the employee lived in Make Believe.

There was rent to pay on the shopkeeper’s retail space. It was paid to the owner of the building, who had lived in Make Believe all his life. The rent was 10 cents of the dollar.

There were operating expenses that the shopkeeper had to pay. Things such as utilities and maintenance and insurance. Sixteen cents of the dollar went to pay those expenses and some of the people that got paid lived in another town far away. Still, eight of those 16 cents was paid to people in Make Believe.

That left 8 cents. What would happen to it?

That’s right. Eight cents was the shopkeeper’s profit she got to keep. Of course, the shopkeeper lived in an apartment upstairs above the shop.

If we total where the second dollar went, we learn about 86 cents stayed in Make Believe.

I wonder what will happen to the 86 cents. Will the manufacturer, the employee, the real estate owner, the shopkeeper and the others spend the 86 cents in Make Believe? Or will they go somewhere else?

I wonder how much of the 86 cents will be spent in Make Believe. Because every time another penny is spent in Make Believe, the little town is better off because someone in Make Believe received it instead of another town.

Each person has a right to spend his or her money wherever and whenever he or she wishes. But when people spend their dollars in other towns, it does not help the economy of their hometowns.

The Tale of Two Dollars is told at this time every year because many people don’t know when they spend their money in their own hometown it helps their hometown.

 Imagine Petal without any of its small, local businesses. Restaurants, hair and nail salons, corner stores, spas, boutique clothing stores, repair shops, laundromats, hardware stores, gift shops, gas stations, and more – all gone.

What would be left? What would the streets look like? Desolate, depressing, empty, boring, abandoned… like a regular day on the zombie apocalypse TV show, The Walking Dead?

Just how much of a presence and impact do small businesses have on our communities? The Small Business Administration (SBA) reports 28 million small businesses operating in the U.S. alone. And since 1995, those small businesses have generated 66% of all new jobs in the United States. Small businesses are a big deal.

This brings us to the upcoming shopping season of Halloween, Thanksgiving and Christmas. Our merchants are here to help you and make you shopping experience pleasant. More importantly, you are helping to support our local economy and your neighbors. Just think of the hundreds of students that have an opportunity to work because of our merchants. There is not one Amazon job available in Petal. Think about who you want to support before you one-click shop.

 

I can’t say enough about the success of our Star Spangled Celebration on the River.  The weather was perfect, the vendors were wonderful, the music was super, the crowd was huge and the fireworks were stunning.  Most of all, we had a great time.  The estimate is that there were between 4,000 – 5,000 at the Petal River Park.  We were hoping for 1,500.  This event was a year in the planning.  It was a pleasure to work with our friends across the river in Hattiesburg.  Kudos to the city of Hattiesburg, the city of Petal, and Forrest County for providing the resources necessary to make this a family friendly, safe event for everyone.  The support from VisitHattiesburg and the ADP was invaluable. And I can’t leave out my great friend, Andrea Saffle, director of the Historic Hattiesburg Downtown Association for her enthusiasm, experience and great humor.

If I learned anything, it is that our community loves to get together and celebrate with each other. It’s heartwarming to see kids playing and families listening music while enjoying good ole fair food.  We need more of this!  But, there is the reality that it costs a lot of money and requires a lot of planning and a hoard of volunteers.  Please support and thank our sponsors who made this possible.  Here is a list.  They all deserve a big pat on the back and your loyalty.

Coca-Cola of Hattiesburg, The First, IHeart Radio, Grove Transit, Gulfsouth Productions, Visit Hattiesburg, Party Box Rentals, Fairley Construction, Dandy Dan’s Smith Petroleum, Mississippi Power, Bourne Brothers, Chick Fil A, Signs First, Keith’s Superstores, Grand Bank, Magnolia State Bank, Trustmark Bank, Central Sunbelt FCU, Carter’s Jewelers, American Graphics, A-1 Grapics, Puckett Rents, Hancock Whitney Bank, Taylor Rental, Stokes Distributing and Southern Beverage.

The volunteers were the heart of this event.  I know that I will leave someone out, but I will attempt to list all of the fabulous groups that gave up their opportunity to relax and enjoy the evening.  Thank you to the Cosmopolitan Club of Petal, the Petal Jaycees, the Petal High School Ambassadors, The 177th Armored Division of Camp Shelby, Dick Pryzbelski, David Ruffin, Zach Vaughn, David Bassett, many individuals and the board of directors of the Petal Area Chamber of Commerce.

As we plan for next year, please consider being a part of the event as a sponsor or volunteer.  It takes all of us!