{"id":55716,"date":"2021-02-17T08:02:00","date_gmt":"2021-02-17T14:02:00","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/?post_type=newsroom&p=55716"},"modified":"2024-09-12T09:47:50","modified_gmt":"2024-09-12T14:47:50","slug":"ulkc-partnership-support-black-businesses","status":"publish","type":"newsroom","link":"https:\/\/www.hrblock.com\/tax-center\/newsroom\/people-culture\/ulkc-partnership-support-black-businesses\/","title":{"rendered":"H&R Block and Urban League of Greater Kansas City partner to alleviate pandemic-related strain on Black-owned small businesses"},"content":{"rendered":"\n

As Black business owners continue facing disproportionate impacts on their business, H&R Block\u2019s Block Advisors will provide them with free one-on-one coaching and counsel during the pandemic and beyond<\/em><\/h3>\n\n\n\n

KANSAS CITY, Mo., February 17, 2021 — According to new data from its ongoing \u201cSmall Business Recovery Series,\u201d Block Advisors, a team within H&R Block (NYSE: HRB), confirms that Black-owned businesses are seeing a disproportionate impact from pandemic-related factors, including more than half of Black business owners reporting a revenue decrease by 50% or more compared to only 37% of white business owners since March 2020. With nearly half (47%) of small business owners not optimistic about success in 2021, Block Advisors is doubling down on its small business focus and today announced a new partnership with the Urban League of Greater Kansas City to improve financial management and confidence among Black small businesses.<\/p>\n\n\n\n

 \u201cH&R Block is stepping up to make sure more Black-owned businesses survive and thrive so they can continue to play such an important part in improving local economies and uplifting our communities everywhere,\u201d said Ian Hardman, Vice President and GM of Small Business at H&R Block. \u201cWe are proud to partner with the Urban League of Greater Kansas City and continue our goal of reaching and supporting 500,000 small business owners by 2025<\/a>.\u201d  <\/p>\n\n\n\n

From February to April during the COVID-19 pandemic, an estimated 41% of all Black-owned businesses<\/a> in America closed their doors for good, and yet less than 2%<\/a> of the roughly four million small businesses who received loans during the first round of the Paycheck Protection Program went to Black-owned businesses. H&R Block\u2019s most recent data also revealed that Black business owners were also more likely to close out 2020 with less revenue than they expected at the start of 2020 as compared to white business owners.<\/p>\n\n\n\n

\u201cThe impact of hundreds of years of systemic racism continue to be felt today and especially through the lens of economic prosperity,\u201d said Gwendolyn Grant, President and CEO of The Urban League of Greater Kansas City. \u201cWe look forward to working together to break down prosperity barriers and providing financial help where it\u2019s urgently needed.\u201d<\/p>\n\n\n\n

The long-term goal is to have Black small business owners from across the country recruited into the program by Urban League affiliates, and this is currently being piloted in Kansas City, Mo. Block Advisors small business certified tax pros will conduct personalized coaching and services designed to improve financial management, tax compliance, bookkeeping and payroll; ultimately increasing business owners\u2019 confidence when they try to gain access to capital. The Urban League will also provide free credit-building services, as needed.<\/p>\n\n\n\n

“Black communities revolve around Black-owned businesses,\u201d National Urban League President Marc H. Morial said. \u201cWhen they thrive, Black communities thrive. By offering coaching and financial counseling to Black business owners, Block Advisors are helping to create an economy that is equitable, robust and resilient for all Americans.”<\/p>\n\n\n\n

As the business owners meet with coaches from Block Advisors, additional free services and connections to resources will be provided. H&R Block will also be offering micro-grants to program graduates on an as-needed basis to help bridge to larger and more permanent sources of capital.<\/p>\n\n\n\n

Block Advisors is dedicated to meeting the tax, bookkeeping and payroll needs of small business owners year-round. Block Advisors small business certified tax pros can offer help with any small business question, and clients can choose how to connect with their tax pro \u2013 in person, via phone, chat or secure messaging.<\/p>\n\n\n\n

The effort is aligned with H&R Block\u2019s Make Every Block Better community impact platform<\/a>, and its Equality Action Plan<\/a>. For more information, visit www.makeeveryblockbetter.com<\/a> or www.blockadvisors.com<\/a>. For more information about the Urban League of Greater Kansas City, visit www.ulkc.org<\/a>.<\/p>\n\n\n\n

Our small business tax professional certification is awarded by Block Advisors, a part of H&R Block, based upon successful completion of proprietary training. Our Block Advisors small business services are available at participating Block Advisors and H&R Block offices nationwide.<\/em><\/p>\n\n\n\n

###<\/p>\n\n\n\n

About H&R Block <\/strong><\/p>\n\n\n\n

H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation<\/strong><\/a>, financial products<\/strong><\/a>, and small business solutions<\/strong><\/a>. The company blends digital innovation with the human expertise and care of its associates and franchisees as it helps people get the best outcome at tax time, and better manage and access their money year-round. Through Block Advisors<\/strong><\/a> and Wave<\/strong><\/a>, the company helps small business owners thrive with disruptive products like Wave Money, a small business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically. For more information, visit H&R Block News<\/strong><\/a> or follow @<\/strong><\/a>HRBlockNews<\/strong><\/a> on Twitter.<\/p>\n\n\n\n

About Urban League of Greater Kansas City<\/strong> <\/p>\n\n\n\n

The mission of the Urban League of Greater Kansas City<\/a> is to enable African Americans and other disadvantaged populations to secure economic self-reliance, parity, power, and civil rights.The Urban League provides programs and services to:  ensure that youth are educated and equipped for economic self-reliance; help adults attain economic self-sufficiency through jobs, entrepreneurship, and wealth creation; assist in ensuring access to quality, affordable healthcare; remove barriers to equal participation in the economic mainstream; and advocate for racial equity and social justice. <\/p>\n","protected":false},"excerpt":{"rendered":"

As Black business owners continue facing disproportionate impacts on their business, H&R Block\u2019s Block Advisors will provide them with free one-on-one coaching and counsel during the pandemic and beyond KANSAS CITY, Mo., February 17, 2021 — According to new data from its ongoing \u201cSmall Business Recovery Series,\u201d Block Advisors, a team within H&R Block (NYSE: […]<\/p>\n","protected":false},"author":406,"featured_media":55693,"menu_order":0,"template":"","tags":[19308,22125],"news-categories":[23336],"class_list":["post-55716","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","tag-make-every-block-better","tag-small-business","news-categories-people-culture"],"acf":{"post_rest_thumbnail_alt_id":""},"yoast_head":"Partnering with Urban League of KC | H&R Block Newsroom<\/title>\n<meta name=\"description\" content=\"As Black business owners face disproportionate impacts, a partnership between Urban League of Greater Kansas City and H&R Block will 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