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Does a Business Owner Need a College Degree?

by Louise W. Rice

If having your own business has always been one of your dreams, you may want to consider getting your college degree. It can help you grow both professionally and individually, and you might even earn more. There are entrepreneurial college-level programs out there, but there is no one right path for you to take. Still, there are a few routes you could consider taking.

Choosing the Right Degree

There is no one right college program for those who want to own a business. However, getting one can give you the skills and knowledge you need to be successful. For example, you could consider getting your master’s degree in business administration. Or you could get even more specialized education by focusing on a certain area. If going to college seems financially impossible but is still something you want to do, consider taking out a private student loan to do so. Taking advantage of private student loans is an excellent way of paying for your education, especially if funds are tight.

By taking business administration or management courses, you can learn the leadership and other skills you need to run your company. Of course, the exact courses will depend on the school, but you can expect to have the chance to learn about specific fields, including marketing, finance, or accounting. With a degree in an area like human resources, leadership, or accounting, you can better understand the different aspects of running an organization.

Relevant Business Degrees

You can get an economics or accounting degree to help run your company smoother. To run your organization, you should understand the different financial aspects, such as how to get funding and how to get investors. You will also want to learn about fundraising and employee equity. While it is possible to delegate these tasks, it is best to know about the various aspects that affect your business ownership.

If you study economics, you will learn about both macro and microeconomics, and you will also take calculus or statistics. With this degree, you can learn important skills that will give you a better understanding of the way finance and business work. With an accounting degree, you will have specific training in areas such as how to manage your finances. That will give you a better foundation to handle your money. Before choosing any program, however, ensure you go over the course schedule to make sure you are getting into a relevant program that will help you be a better business owner.

Computer Science

This degree path might be useful to entrepreneurs. You do not need to know about writing code or how to create software, but the technical focus might be helpful. Many companies have a presence online, use computers, and often conduct business online. Look for a college program that will have relevant courses that relate to what your company does. For instance, perhaps you want to learn how to set up your own website and use HTML to do so. Or you might want to learn how to use CMS.

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