Black businesswomen can apply for grants worth $100,000. dollars from H&R Block block advisors –

Black women entrepreneurs could possibly be among the many recipients of $100,000 in matched grants through Block Advisors By H&R Block for women small business owners.

This is the primary time H&R Block’s small business unit, Block Advisors, has offered such financing. Raising capital stays an obstacle for many Black businesswomen trying to start out or expand a business.

Called Fund her future, under this system, grants will probably be awarded to 5 small enterprises run by women. One grand prize winner will receive $50,000; 4 finalists will receive $12,500 each. All grant recipients may have access to a yr of small business services from Block Advisors. Those interested can use by May 26, 2024. We especially encourage applications from small, women-owned businesses that promote inclusion and can exhibit community impact.

These much-needed funds can are available very handy. According to a press release, the most recent data from Block Advisors’ Small Business Resilience Series study shows that “31% started a business within five months of considering the option, 9% more than non-women.” However, “compared to their counterparts, they were more likely to earn less and be denied loans, and the disparities were even greater for small business owners of color.”

The initiative goals to assist close the funding gap for women’s businesses. This is crucial because Black women founders are reported to earn annual revenues of $24,000, which is about six times lower than all women-owned businesses. Data shows that 61% of Black women use their capital to finance a brand new business.

Industry observers query how long the crisis could last if Black women owners proceed to face obstacles in accessing financing, including bank loans, enterprise capital and investor-backed aid, amongst other stacks of capital.

“Over the past five years, women-led businesses have grown almost twice as fast as men-led businesses,” said Jamil Khan, chief strategy officer and small business specialist at H&R Block.

She added: “Despite women-owned small businesses being considered one of the fastest-growing segments of the small business space, they proceed to experience funding and support gaps in comparison with their male counterparts. The announcement of the grant program kicking off National Small Business Month will hopefully make clear this discrepancy.

See more details in regards to the program Here.