In a groundbreaking move to bridge the funding gap faced by women-owned businesses, H&R Block has launched the “Fund Her Future” grant program.
This initiative aims to empower Black women entrepreneurs by providing them with the much-needed resources and financial support to thrive.
Closing the Funding and Support Gap
Despite being the fastest-growing group of entrepreneurs in the United States, Black women often face significant hurdles in securing funding and resources for their ventures. Block Advisors, a subsidiary of H&R Block, recognized this disparity and took action.
“Over the past five years, women-owned businesses grew at nearly double the rate of men-owned businesses,” said Jamil Khan, Chief Strategy and Small Business Officer at H&R Block. “Despite being one of the fastest-growing segments of the small business space, women-owned small businesses continue to experience a funding and support gap compared to their male counterparts.”
$100K in Funding and Resources for Five Winners
The “Fund Her Future” grant program will award five women-owned small businesses with a total of $100,000 in funding and access to a year of small business services from Block Advisors. This comprehensive support aims to provide the necessary resources for these entrepreneurs to grow and thrive.
“With immediate access to capital, resources, and trusted expertise, we’re confident women entrepreneurs will see significant growth for their small business, influencing the momentum of their community for years to come,” Khan added.
Addressing the Unique Challenges Faced by Women Entrepreneurs
Block Advisors’ Small Business Resilience Series survey revealed that while 31% of women start their businesses within five months of considering it (9% more than non-women), they are more likely to be denied loans than their male counterparts.
“Supporting the advancement of small business is a start, but we need to also do our part in leveling the playing field for men and women entrepreneurs,” said Khan. “Women small business owners are integral players in their communities. We owe it to them to close funding and support gaps so they can focus on realizing their goals and making an impact.”
