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What Are The Best Business Degrees for Entrepreneurs?
March 02, 2020
What Are The Best Business Degrees for Entrepreneurs?

What Are The Best Business Degrees for Entrepreneurs?

Do you hope to open and operate your own business one day? Are you motivated by a flexible work schedule and unlimited earning potential? If so, there are numerous business degrees that can help you turn your dreams into a reality. 

These degrees are offered at colleges and universities worldwide and may be invaluable as you pursue your venture. They can allow you to identify your passion and build valuable business skills so you’re prepared to succeed.

What are the best business degrees for entrepreneurs? Keep reading to find out. 

In Defense Of Going To College

The reality is that college isn’t required for entrepreneurs. In fact, many business owners such as Mark Zuckerburg and Richard Branson succeed without a college degree. Despite this, however, earning a business degree is still a good idea. Since today’s market is more competitive than ever, a degree can provide you with the necessary skills to succeed.

For example, what if two entrepreneurs have similar business ideas, but only one of them has a business degree? Which entrepreneur will be more likely to succeed? The entrepreneur who has developed a solid set of business skills.

Chances are, the college grad is well-versed in various business disciplines such as accounting, finance, and marketing. They have the knowledge that the entrepreneur who didn’t pursue a business degree may not have.

Another noteworthy benefit of attending college as a budding or current entrepreneur is access to various resources and industry leaders. Many colleges and universities partner with companies to provide their students with lectures, internships, networking events, and more. These opportunities can give you the chance to make meaningful connections that steer you in the right direction. 

Some educational institutions work with incubators and accelerator programs to give entrepreneurs access to funding and support. The University of Missouri System, for example collaborates with Ameren Accelerator, which focuses on technology startups. It hires students as interns and offers mentorship opportunities to those who wish to pursue their own venture. 

In addition, a business degree can grow your ability to work with different people and backgrounds. This is invaluable, as most entrepreneurs hire employees and have to learn how to manage varying personalities.

The Best Business Degrees For Entrepreneurs

Fortunately, there are many business degrees available, whether you already own a business or plan to in the future. The industry you choose as well as your strengths and weaknesses will dictate the ideal business degree for you. Consider all of the best business majors available and research programs at various schools before you make a decision. 

General Business

A general business degree covers a number of business topics. If you go this route, you’ll take a broad array of business-related classes. This includes topic such as accounting, operations management, marketing, and finance. While it won’t focus on one specific discipline, it will allow you to dabble in several of them.

You’ll find that some general business programs allow you to concentrate in a certain field. Concentrations often include marketing, human resources, ethics, and business law. This can give you the chance to focus on a discipline that interests you without limiting your career choices.

Entrepreneur Benefit

With a general business degree, you’ll prepare yourself to oversee many different aspects of your business. If you’d like to become a well-rounded business professional, you can’t go wrong with pursuing this degree.

Finance

A finance degree can help you learn the various money-related decisions that businesses and consumers make on a regular basis. It focuses on how to manage money wisely and can do wonders for your entrepreneurship journey. Some of the most common courses in a finance degree program include asset and debt management, capital planning, and financial analysis. Once you receive a finance degree, you’ll know how to budget, manage cash flow, and make smart financial decisions. 

Entrepreneur Benefit

As an entrepreneur, one of your top goals is to make money. A finance degree can teach you how to monitor your business’s financial health so you can reduce risk and maximize profit. Upon graduation, you’ll know how to review different financial statements and keep your organization financially stable.

Economics

At its core, economics is the study of psychology and why people make the decisions they make. It also revolves around resources and how they’re spread out on a global scale. As an economics major, you’ll study both microeconomics and macroeconomics. 

Microeconomics refers to how people use their wealth while macroeconomics looks at unemployment, inflation, and monetary struggles around the world. In addition to courses in microeconomics and macroeconomics, you can expect to take statistics, calculus, business communications, and technology. Due to the emphasis on big data in today’s business landscape, an economic degree is well worth it. 

Entrepreneur Benefit

Critical thinking is an essential skill for any entrepreneur. It’s the ability to think clearly and rationally so you can make informed choices. An economic degree can give you the opportunity to develop critical thinking skills that’ll take your business venture to new heights. 

Marketing

Marketing degrees can teach you how to analyze the business market so you promote and sell your products and services. It incorporates a number of marketing-related subjects such as marketing research, strategy, management, and science. 

Marketing courses offer the opportunity to identify potential markets, estimate demand, and attract customers. In addition, they explain how human behavior influences marketing decisions and how data can be used to create powerful marketing campaigns. By the end of the program, you’ll have the knowledge you need to get your organization’s name out there.

Entrepreneur Benefit

A strategic marketing plan can get customers in the door. Once you complete a marketing degree program, you’ll know how to design one. You’ll be well-versed in various marketing tactics and find it easier to promote your offerings to your target market. No matter what industry your business is in, marketing will be imperative.

Computer Science

Computer Science

A computer science degree will equip you with the skills you need to design, develop, test, and produce computer systems. If you decide to earn a degree in computer science, you’ll take courses on topics such as:

  • Artificial intelligence
  • Database systems
  • Graphics and vision
  • Software engineering
  • Computing theory

Once you graduate from a computer science degree program, you’ll be able to do your own programming, and web development. Since computer science is a growing field, a degree can be a great way to break into the industry. It’s a particularly good choice if you’re comfortable with technology and computers. 

Entrepreneur Benefit

If you own or wish to own a tech startup, a computer science degree is the way to go. You can use what you learn to build an app, software, or device that attracts customers and brings you great success. Just make sure you work on your non-technical skills as well as they are important for any business owner. 

Communications

With a communications degree, you can become a better communicator through print, online media, and spoken world. Although there are a variety of communication degrees, most of them offer specializations in journalism, mass media, and health communication. 

You’ll find that a communications curriculum sets you up for success in public relations, marketing, advertising, publishing, and human resources. It’s a versatile degree that can make sense for any entrepreneur. Common courses include intro to mass communications, communication research, and web design. Most communications majors go on to enjoy careers in marketing, public relations, or sales.

Entrepreneur Benefit

Through a communication degree, you can develop the skills you need to convey your message to your audience. Whether you’re pitching an idea to investors, updating your business website, or designing ads, a communication degree will be beneficial.

Engineering

The study of engineering centers around design, research, and the use of engines, machines, and structures.  A degree in engineering can provide you a strong education in science, technology, and math.

From mechanical engineering and electrical engineering to biomedical engineering and aerospace engineering, the engineering degree options are endless. Each type of engineering can prepare you for a different business venture. 

Entrepreneur Benefit

After you complete coursework in engineering, you become a better project manager and problem solver. Both of these things are vital for the success of any business. You’ll know how to think logically and creatively and be able to handle any roadblock that comes your way. 

Engineering

Entrepreneurship

In recent years, more and more schools have begun to offer degrees in entrepreneurship. An entrepreneurship degree is specifically designed for students who want to start and run their own businesses. It involves business subjects like accounting, finance, marketing, economics, and ethics. Knowledge on all of these subjects can allow you to manage your business successfully on a day-to-day business.

Additionally, an entrepreneurship degree can help you identify and assess business opportunities, secure funding, and manage every aspect of your operation. Most entrepreneurship programs include electives such as advertising, marketing research, and consumer behavior. 

Entrepreneur Benefit

An entrepreneurship degree can give you the opportunity to build your own business from the ground up. It can guide you the process of launching, managing, and growing your venture. This degree can also connect you with other people who are passionate about their own business aspirations.

Our Final Thoughts

If you decide to pursue a business degree, understand that it won’t guarantee success. What it can do, however, is provide you with knowledge, skills, and connections you need to thrive.

With so many degree options out there, you’re sure to find one that meets your unique needs and preferences. Ultimately, a degree paired with valuable work experience can give you the confidence you need to grow your business venture.

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Frequently Asked Questions

What are the best business degrees to get?

Some of the best business degrees include general business, finance, economics, marketing, computer science, engineering, and entrepreneurship.

Do I have to have a degree to succeed as an entrepreneur?

No, there are many entrepreneurs who have been successful without a degree. While a degree isn’t required, it can provide you with a strong foundation as you build your business.

How much do business degrees cost?

Business degrees vary in price and depend on factors such as college or university, location, degree type, and financial aid options. The average cost, however, ranges from $16,000 and $34,740.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].