Black Spend Initiative
A dollar spends 28 days circulating in the Asian community; 19 days in the Jewish community; 17 days in predominately WASP communities; and 7 days in Hispanic communities. A dollar circulates for only 6 hours in the black community. In other words, when a Black person earns a dollar, it is typically not spent with a Blackowned business. 99% of our $1.3 trillion buying power is spent outside of our community. Blacks spend less money in Black-owned businesses than other racial and ethnic groups spend in businesses owned by members outside of their groups. By changing nothing, nothing happens.
Bigger and Better Business became the first national program of Phi Beta Sigma Fraternity. It was first introduced at the Tenth Anniversary Conclave, in Philadelphia, Pennsylvania (December 1924). When Bigger and Better Business was adopted as a national program, special emphasis was placed on encouraging and promoting Negro businesses. At its inception, the program sought to encourage Negro businesses to improve their business acumen, efficiency and service to the public, to be competitive with other businesses.