Phi Beta Sigma has set an aggressive 2-year goal for 2022-2023 to increase the power of the Black dollar. At its inception, the program sought to improve their business acumen, efficiency and service to the public, in order to be competitive with other businesses.īSI is not a one-time effort. When BBB was adopted as a national program, special emphasis was placed on encouraging and promoting Black businesses. It was first introduced at the Tenth Anniversary Conclave, in Philadelphia, Pennsylvania (December 1924). BBB became the first national program of the Fraternity. This is an aggressive effort as part of the fraternity’s Bigger and Better Business initiative (BBB). Committed to the principles of Brotherhood, Scholarship and Service, Phi Beta Sigma stands nationally as the leading proactive community service organization, a. “Our members get to experience how our international commitment to improving the communities we serve can blossom by their efforts in their hometowns.” “This initiative gives local chapters across the country the opportunity to be the boots on the ground,” said Bro. chartered at Howard University in Washington, D.C. The Fraternity is excited about how its members have galvanized around these efforts to support local businesses and create change. The Almighty Alpha Chapter of Phi Beta Sigma Fraternity, Inc. Our International Bigger and Better Business Team has set a 2-year Black Spend Goal of $6 million dollars. 9, 1914, by three Black, male students at Howard University. Phi Beta Sigma is proud to announce, BSI $2.6 million has been captured and documented in the circulation of dollars spent with Black-owned businesses by the greatest Fraternity in the world! The fraternity has developed something called the Black Spend Initiative (BSI) – designed to support, sustain and potentially recover Black-owned businesses and to increase the amount of time consumer dollars circulate in Black communities.Īs part of the effort, fraternity members purposely searched for opportunities to support Black plumbers, contractors, caterers, lawyers, insurance agents, and many other businesses and services. That’s the largest drop across any ethnic group. PHI BETA SIGMA FRATERNITY WILL GATHER IN THE GREAT STATE OF TEXAS. Here’s another startling statistic. According to the House Small Business Committee, during the pandemic, between February and April of 2020, Black business ownership declined more than 40%. The organization’s partnerships with the American Cancer Society, March of Dimes, Center for Disease Control and Prevention, Boy Scouts of America and the Thurgood Marshall College Fund are examples of its efforts to address societal ills including health disparities and educational and developmental challenges for people of all backgrounds.WASHINGTON, DC (December 9, 2021) According to Neilson, a global leader in audience insights, data and analytics, Black spending power in 2020, was $1.57 trillion. Yet on average, consumer dollars only spend 6 hours circulating in the Black community, compared to 7-28 days in other communities. For example, our national mentoring program for males ages 8-18 provides for the development of young men as they prepare for college and the workforce. Through the lens of these programs, members determine how best they can serve their respective communities. Membership into Phi Beta Sigma has its privileges The Founders envisioned an organization built on the principles, integrity, and most of all service. To develop a sense of pride and commitment in the community toward healthy living that will reduce the incidences of health conditions that adversely affect men of color.To ensure symmetry among all organizational and community initiatives.
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