The Importance of Black Spend


Phi Beta Sigma has always recognized the importance of the Black economy.  In 1924, the Fraternity formally established its Bigger and Better Business Program to support Black businesses throughout the United States.  Today we continue to highlight the importance of Black Spend with the launch of the Sigma Black Spend portal.  Our goal is to provide a uniform method of submitting and tracking Black Spend Activity for all Fraternity Chapters.

“Black Spend matters because the circulation of the dollar in our own community has been proven to not only increase the middle class but invest in programs and initiatives that support our community. Reporting Black Spend activity allows our fraternity to quantify our economic impact. As a collective buying power, we are able to demand policies that make sense for our community.”

– Honorable Bro. Chris Rey, 36th International President of Phi Beta Sigma Fraternity, Inc.

Black Spend matters because:

    1. It Builds up Communities
    2. It Creates Jobs and Opportunities
    3. It Closes the Racial Wealth Gap
    4. It Empowers local communities

Tracking Black Spend enables us to leverage our spending power to gain access to Sponsorships and other funding. These resources help to support our International Programs which are Bigger and Better Business, Education, and Social Action.

– Bro. Terrance Gibson International Director of Bigger & Better Business

 “Black Spend directly impacts not only the businesses we support but the families behind those businesses as well.  Generations have been sustained, reared, and educated because of the support we show businesses in our communities.  Capturing Black Spend further communicates our commitment to those businesses.”

– Honorable Bro. Reginald Sluch (DSC), Past International Director of Bigger & Better Business


“Black Spend matters because we must be intentional when spending our dollars. This is how we build leverage and gain power with our 1.4 trillion dollar annual spend.  Black Spend is a process of sacrifice, not equal giving. It is a change in mindset. We must record our spend activity because we cannot improve what we cannot measure.”

– Bro. Mike Harvey, Sr., Int’l Team Lead – Phi Beta Sigma Black Spend Initiative