New financial opportunities for women owned businesses to continue to grow

KANSAS CITY, Mo. (KCTV) – Equity, fairness and equal opportunity. These are all goals for a new program trying to put women on the road to success as they start a small business.

Getting your foot in the door to become a small business owner could become a little easier for women around Kansas City and beyond. One local financial firm looks to close the gender gap on investments available to female entrepreneurs by launching a new program any woman who owns a business can become part of.

Casey and her sister Sloan Simmons of Kansas City set out to open their own store 28 years ago.

“It was impossible,” Casey recalled when it came to finding a bank that would loan them money.

No matter where they went, nobody would offer them a loan or investments to grow their retail shop ‘A Store Named Stuff’.

“We were always asked what do your husbands do for a living? That was one of the first three questions we were always asked,” Casey said. “And what will you do when your children come around?” Sloan Simmons added.

In 2024, Women-Owned Businesses make up 39.1% of all businesses in America. Growing at almost double the rate than businesses owned by men between 2019-2023. But Business consultants with H&R Block still see challenges and want to change that by creating ‘Fund Her Future.’

“We’re going to offer them grants totaling $100,000 and really the way that will work is we’re going to select five finalists,” H&R Block Small Business Program Manager LaTasha Randle explained. “One of them will be our grand prize winner who will receive $50,000. The other four finalists will receive $12,500 each.”

Businesses that are 51% or more owned by women can apply to H&R Block’s “fund her future” program. Where five female business owners will be awarded not just investments, but also other free business consulting services they have missed out on.

“Give you some of that tax advice and give you some of those services coupled with the funds,” Randle said. “So, you can really see your business take off.”

The Impact of Women-Owned Businesses report shared by H&R Block and Wells Fargo also found Kansas is among the top 10 worst states in America for women to start a business. Anyone interested in applying to “Fund Her Future” has until May 26th to submit an application.

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