The Center for Women's Business Research reports that, "As of 2002, there are an estimated 10.1 million privately-held majority or 50% women-owned businesses in the U.S., accounting for 46% of all privately-held firms. These firms generate $2.3 trillion in sales and employ 18.2 million workers." Further it states, "In North Carolina, women-owned firms approach 171,000, employment tops 307,000, and sales exceed $37.3 billion." Given the impact of these statistics, the questions arises what, if anything, should a small, all-female, undergraduate, private liberal arts college do about developing and implementing a Family Business/Entrepreneurial (FB/E) studies program? This paper reviews issues: national, state and college to determine the direction for establishing a program at this school.