Title
Commending the Philadelphia 76ers in creating the Buy Black Program to support Black-owned small businesses.
Body
WHEREAS, The Philadelphia 76ers unveiled the 76ers Buy Black Program on Martin Luther King, Jr., Day 2021. In continuance of Harris Blitzer Sports & Entertainment's action plan and a $20 million commitment to racial equity, the Buy Black Program demonstrates the franchise's commitment to supporting Philadelphia small businesses, in particular Black-owned small businesses; and
WHEREAS, The 76ers Buy Black Program was developed to promote local, Black-owned businesses, and provide them with expert marketing consultation, advertising value, educational programs, and additional tools to succeed. Applying businesses will be eligible for other resources such as grant opportunities, assistance accessing Payroll Protection Program loans, networking events, and future 76ers business programs; and
WHEREAS, According to the 76ers, before the pandemic, Black-owned businesses in the Philadelphia region averaged less than one third of the annual sales of white-owned businesses. Furthermore, the COVID-19 pandemic has had a disproportionately strong impact on Black-owned businesses. According to The Philadelphia Tribune, during the public health crisis, 28% of Black-owned businesses were in industries with the largest total job losses compared to 20% of white-owned businesses. Between February and April 2020, 41% of Black-owned businesses had to close compared to just 17% of white-owned businesses; and
WHEREAS, David Gould, 76ers Chief Diversity and Impact Officer, said regarding the Buy Black Program, "It's important that we acknowledge past policies, such as lending discrimination and segregation, that have kept Black business owners from accessing the investment and customer base that will help them grow and succeed. The Buy Black program is about celebrating all that Black Businesses have to offer our region and connecting them with the exposure and re...
Click here for full text