Through their business-minded block party, the members of the Alpha Sigma Alumnae Chapter of Sigma Gamma Rho Inc. curated an event in Indianapolis to get members to patron local Black and minority-owned enterprises.
In the second annual “Black Businesses Block Party,” the sorority sisters utilized their platform to give a boost to the companies in the city run by entrepreneurs of color. The block party went all down Georgia Street, and featured over 100 vendors from a wide range of businesses, such as food, jewelry and clothing.
Attendees were encouraged to not only join in on the festivities, including a live DJ, but to purchase from locally-owned business. The notion of “buying Black” not only recirculates the Black dollar within the community, but could lead to the financial independence many of the owners present hope to gain.
“We are trying to promote and encourage minority businesses, and give them a platform,” chapter member Mayrena King told WRTV. “Most of these business owners do it as a side job but want it to be a full-time job so we’re trying to give them support.”
The all-women organization is not the only one focused on financial efforts. Fellow Divine 9 Sorority Alpha Kappa Alpha Inc. has opened a credit union
for members to combat discriminatory lending and banking practices.Black consumers are relatively overlooked, especially in regards to their spending habits in the market. However, Black households are estimated to hold over $300 billion in spending value, according to a report by McKinsey Quarterly. With this power, along with a growing preference to buy from their community, Black entrepreneurs have a space and avenue to thrive.
The Indianapolis members of Sigma Gamma Rho Inc. hope that the block party’s success and impact will influence other groups nationwide to keep this type of party (and patronage) going.
RELATED CONTENT: Alpha Kappa Alpha Sorority, Inc. Opens First-Of-Its-Kind For Members Only Credit Union