KANSAS CITY, Mo., April 29, 2024 (GLOBE NEWSWIRE) — To help close the gap in funding and support for women-owned small businesses, Block Advisors by H&R Block created the Fund Her Future small business grant program. The program will award five women-owned small businesses a combined total of $100,000 in funding and access to a year of small business services from Block Advisors. Submissions will be accepted at BlockAdvisors.com/FundHerFutureGrant through May 26, 2024.
“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. Announcing the grant program to kick off National Small Business Month will hopefully illuminate this disparity.”
The latest Data from Block Advisors’ Small Business Resilience Series survey shows 31 percent started their business within five months of considering it (9% more than non-women), yet they were more likely to make less money and be declined for a loan than their counterparts – and the disparities were even greater for small business owners of color.1
“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.”
To apply, applicants must be over 18 years old and an owner of a United States-based business that is at least 51% women-owned. Other eligibility requirements can be found on the grant website. Businesses that promote inclusivity and can demonstrate community impact are especially encouraged to apply. Following submissions closing on May 26, 2024, a group of finalists will be selected to participate in interviews in mid-June. Five winners will be notified by the end of June.
One small business owner will receive a first-prize grant package of $50,000 and a year of access to small business services from Block Advisors. Four honorable mention winners will receive a $12,500 grant and the services package. Block Advisors helps over two million small business owners annually with year-round tax preparation and business services, including business formation, bookkeeping, payroll, and Beneficial Ownership reporting.
“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,” said Khan.
To learn more about Block Advisors, visit www.BlockAdvisors.com and visit www.BlockAdvisors.com/FundHerFutureGrant to submit for the Fund Her Future grant program.
About H&R Block
H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News or follow @HRBlockNews on X.
| Media Contacts | |
| Media Relations: | Erika O’Shea, (816) 585-6058, erika.oshea@hrblock.com |
| Investor Relations: | Michaella Gallina, (816) 854-3022, michaella.gallina@hrblock.com |
| Jordyn Eskijian (816) 854-5674, jordyn.eskijian@hrblock.com | |
1 H&R Block. (2023). Small Business Resilience Series Survey. Block Advisors by H&R Block. https://investors.hrblock.com/news-releases/news-release-details/new-data-block-advisors-reveals-small-business-owners-are-highly
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fee5aa40-57e7-4933-815f-0f08700ceb4e
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a88e9818-fd7d-46e0-ae1e-3a0539590f0b
