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If you have ambitions to become an entrepreneur and start your own business, it is definitely important to consider a variety of degrees for small business ownership.
So what is the best degree to get to be successful in small business ownership? Degrees for small business ownership can come in different types. Here is a quick and comprehensive overview of the different types of degrees you can obtain if you aspire to be a small business owner.
General Business Administration
For most people, getting a degree in business administration is usually the most logical choice when looking to be a future small business owner. This type of degree will prepare you take a wide range of courses in marketing, finance, management, human resource management, international business, accounting and business law. You will take additional electives such as small business entrepreneurship, new venture creation, etc. However, this will depend on the school you attend. This type of degree is best suited for someone who wants a more well-rounded degree.
Finance
A degree in finance is also a good choice for someone looking to be a small business owner. However, getting a degree in this field will prepare you to be more of a financial analyst. You will gain expertise in developing financial plans, doing financial analysis, and learning the ins and outs of wealth investment. Those who obtain this degree will also learn about corporate finance, valuation methods, etc.
Marketing
Marketing as a degree is also another great choice for those aspiring to be small business entrepreneurs. Marketing will teach you in great detail how to prepare a comprehensive marketing plan, learn different types of media, how to develop a sales and pricing strategy, and much more. Marketing will also teach you how to conduct in-depth market research and how to properly identify different customer segments. For those who have much more of a creative flare, marketing might be more of your forte.
Liberal Arts Studies
For those who do not have a strong background in mathematics and finance, they may experience discouragement from pursuing their entrepreneurial dreams. However, you should not let your dislike of number crunching stop you. Many successful entrepreneurs have degrees in fields such as sociology, language, communication, political science and anthropology. However, choosing the right liberal arts degree program will be based on the type of small business you want to start.
In the end, it is highly recommended to stick with a degree in business and concentrate in one of the major areas such as finance, marketing, or accounting. Successful business owners have to be very detailed and strategic individuals who know how to put plans in place that actually make sense to investors, potential business partners and even customers. If you do not necessarily want to go the business degree route and decide to go the liberal arts route, at least be sure you are taking some business courses while enrolled in school. This will definitely benefit you. You will essentially get best of both worlds while still focusing on your own intellectual passions.
Filed under: Degrees for Small Business Ownership
