In a move to address the funding gap faced by women-owned businesses, H&R Block has launched the “Fund Her Future” grant program. This initiative aims to empower and uplift Black women entrepreneurs by providing them with substantial financial support and invaluable resources.
Narrowing the Gender Pay Gap: A Bold Initiative
The “Fund Her Future” grant program is a testament to H&R Block’s commitment to promoting inclusivity and equal opportunities in the entrepreneurial landscape. With a total funding pool of $100,000, this grant aims to tackle the persistent gender pay gap head-on. Moreover, the program offers ongoing tax support through H&R Block’s renowned ‘Block Advisors’ offering, ensuring that the recipients have access to expert guidance throughout their entrepreneurial journey.
“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.”
Empowering Women Entrepreneurs: A Driving Force for Change
The decision to launch the “Fund Her Future” grant program comes in response to Block Advisors’ Small Business Resilience Series survey. The survey revealed that while 31% of women started their businesses within five months of considering it, they are more likely to be denied loans than their male counterparts. This sobering reality underscores the urgent need for initiatives like “Fund Her Future” to level the playing field.
“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,” Khan emphasized. “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.”
A Catalyst for Growth and Community Impact
The “Fund Her Future” grant program is poised to be a game-changer for Black women entrepreneurs. By providing immediate access to capital, resources, and trusted expertise, H&R Block aims to fuel significant growth for women-owned small businesses. This, in turn, will have a ripple effect on the communities they serve, fostering economic development and inspiring future generations of female entrepreneurs.
“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 stated confidently.
