WASHINGTON, DC — Today, the Independent Women’s Forum, the Center for the Study of Taxation, and the National Association of Women Business Owners announce the release of an important new study about women-owned businesses.  As strong supporters of female entrepreneurship, IWF encourages the public to consider the findings of this study, which surveyed members of the National Association of Women Business Owners (NAWBO).


This study demonstrates conclusively that the federal estate tax has a negative impact on an essential sector of the American economy — female entrepreneurs.  Among the study’s findings:



  • The estate tax costs jobs.  The study found that 39 jobs are lost per business due to the costs of federal estate tax planning in the last five years.
  • The estate tax prevents business growth.  Women business owners report that the costs of federal estate tax planning will prevent the creation of 103 new jobs per business in the next five years.
  • Estate tax planning wastes vital business resources.  Female entrepreneurs reported that, on average, in the past five years, they spent nearly $60,000 on estate tax planning, money they could be using to expand their businesses.
  • The estate tax threatens long-term health of small business.  Four out of ten respondents in the survey expected that all or part of their business would have to be sold in order to meet the federal estate tax burden.  More than one third of women business owners will have to borrow money to pay the estate tax.

Women-owned businesses — 9.1 million strong — are a vital force in the American economy.  As this report reveals, we should make every effort to eliminate the unfair tax burden on these female entrepreneurs. Doing so ensures their continued success and the long-term health of the American economy as a whole.