If you think you’re ready to own a business, you might want to know what it takes to get started. While having a degree isn’t the highest priority over passion and a good work ethic, a degree certainly wouldn’t hurt your credibility.
The following will address things you should know about what degree you need to own a business.
Best Degrees for Business Owners
Technically, there are no specific requirements for a specific degree to be an entrepreneur. Any degree will provide you with plenty of knowledge and the skills you need to get started in any business.
Keep in mind that starting some businesses may require that you have a degree or some kind of education and certification to practice.
You need to know what businesses require a specific degree in your country or region. However, basic business ownership is something any general degree can cover.
Some people get their MBA (Master’s in Business Administration), which covers business management and administration, leadership, and other related courses like marketing, accounting, and economics and finance.
All of these are key to operating a successful business. Some people have no degree at all, and yet they operate successful businesses.
Others have Associate’s degrees in Business Administration or Bachelor’s degrees in Business
Administration.
Both of which are ample for starting and managing a business.
Other Degrees for Starting a Business
Besides a business degree that teaches you about leadership, business management, and strategic planning, you will also find other college degrees to be most helpful for starting and managing a successful business.
Economics
Pursuing a degree in economics will include classes such as macroeconomics and microeconomics, alongside of other related math classes such as statistics, algebra, or even calculus.
The knowledge and skills you gain from this major gives you a solid understanding and skills for finance and business applications.
Accounting
A degree in accounting is a worthy pursuit, as this education prepares you for handling the foundation of your business’ financial health.
You will learn the laws regarding taxes and how business accounting must be done to comply with regulations.
Computer Science
Since many new businesses these days involve digital and online elements, a degree in computer science is another good option for starting a business.
Think about people who need help with e-commerce, HTML, CMS, networking, and other applications that can result in a consultation business.
It’s also helpful for starting any business, since being computer savvy is essential nowadays.
Business Management
While we discussed getting a business degree, we didn’t discuss the specifics of business management degrees. Most of the time, this requires a bachelor’s degree in a specific area of business management.
You can also narrow your major to marketing, administration, and other available options provided by the college of your choice.
Industrial Engineering
An industrial engineering degree will provide you with strategic thinking and special ingenuity to start a business.
This may seem like an unconventional degree for business, but it offers the skills and knowledge for owning a business.
Do You Have to Go to School?
No. There is nothing that says you cannot start a business without a degree. However, it’s recommended that you get training in business operations and a few certifications in management, leadership, and supervisory areas.
If you decide to get your degree, you can opt to take Clep courses and “clep” out of taking certain classes and still earn credits toward your degree. You can take individual courses online to gain business skills.
Anything you do towards educating yourself to start a business will help your credibility and help you to become an authority in your industry and/or niche.
What Skills are Needed to Own a Business?
If you aren’t yet sure about which educational avenue you want to pursue for starting a business, this list of skills required for business ownership may help you decide which way to go.
Necessary Business Skills
- Accounting, budgeting, financing
- Sales, marketing, and promotions
- Communication (written and verbal)
- Project management
- Leadership and delegation
- Networking
Conclusion
Essentially, anyone with a passion for something that also has some business sense can own and operate a business.
What degree do you need to own a business? The answer is a range between no degree at all to an MBA. Ultimately, the decision to get a degree to own a business is up to you.
You may find that even individual courses and certifications are a big help if you don’t plan to go to college.
That said, there are so many options for college these days, there is no reason you shouldn’t give it a try.
