The Love Madeley campaign, working with The Anstice, is organising the meeting on September 21 at 6pm.
“All Madeley businesses are welcome, whether they are a retailer, manufacturer, professional service provider, an independent or part of a chain,” said Sally Themans of Love Madeley.
“This is a chance to network in an informal atmosphere and to find out what is going on in the town.
“We hope as many people as possible will attend for a drink and a chat. We are open to ideas about how to raise the profile of Madeley and make business here better."
Items on the agenda will include an autumn pumpkin trail organised by Love Madeley and a Christmas ‘Shop Local’ campaign.
Madeley Mayor Helena Morgan, who will be attending, welcomed the initiative.
She said: “This is a big step forward for the town – we hope it will be the first of many such meetings.
"Madeley’s businesses have a wonderful sense of community and I have seen first hand the strong relationships and support they give each other.
“This initiative will help strengthen that and will give our businesses a space to share ideas. I am really looking forward to seeing this evolve."
Anyone who would like to register interest to attend should email Jade firstname.lastname@example.org