Black Business Month Recap
Last month, the Men of Sigma proudly celebrated National Black Business Month, highlighting the importance of supporting Black entrepreneurs and strengthening economic empowerment in communities across the nation. Through this collective commitment, Phi Beta Sigma Fraternity, Inc.’s Western Region generated an economic impact of $20,604.50 in support of Black-owned businesses.
The three states in the region with the greatest economic impact were Arizona, contributing $8,748.50, followed by Northern California with $5,818.40 and Southern California with $4,242.61. At the chapter level, the top contributors were Alpha Epsilon Sigma Chapter - Phoenix, AZ, with $7,866.74; Theta Lambda Sigma Chapter - San Jose, CA, with $4,388.53; and Phi Beta Sigma Chapter - Los Angeles, CA, with $1,768.76.
Phi Beta Sigma Fraternity, Inc.’s commitment to supporting Black-owned businesses dates back to December 1924, when the Fraternity introduced its Bigger & Better Business national program at its Tenth Anniversary Conclave in Philadelphia, PA. The program was established to encourage Black businesses to strengthen their business acumen, efficiency, and service to better compete in the marketplace.
Nearly a century later, that commitment continues through the Black Spend Initiative, created in September 2020 by Bro. Mike Harvey, under the leadership of Bigger & Better Business Director Hon. Bro. Reginald Sluch. Established in response to the disproportionate impact of the COVID-19 pandemic on Black-owned businesses, the initiative encourages Brothers and communities to intentionally invest in, support, and build lasting relationships with Black-owned businesses.
The Black Spend Initiative has grown exponentially since its inception. From an initial reported $186,000 in 2020, Phi Beta Sigma Fraternity, Inc. has now reported more than $49 million spent with Black-owned businesses in the past six years.
This initiative goes beyond spending; it is about building lasting relationships that promote job creation, business stability, and generational wealth. By intentionally supporting Black-owned businesses, Phi Beta Sigma Fraternity, Inc. continues to strengthen the communities we serve while striving to achieve the vision of our Founders.
