Entrepreneurship Degrees
Small businesses are a critical component of the U.S. economy, employing over 50 percent of the private workforce and producing over 50 percent of private sector output. Starting and running a small business is a challenging pursuit, requiring determination and self-discipline. To maximize one's chances of success, entrepreneurs need to have a thorough business education which will help them avoid common mistakes that keep many small businesses from succeeding.
Although an entrepreneur can sometimes hire people with business expertise they are lacking, most do not initially have that option and must do everything themselves. They need to have a thorough understanding of how to create and implement a business plan which includes marketing, finance, and management knowledge. A degree in Entrepreneurship will provide all the training a business owner will need to be successful.
Degree Options
- Bachelor's Degree - A bachelor's degree in entrepreneurship will provide the knowledge a small business owner needs to succeed.
- Master's Degree - These programs build on existing education and experience to provide advanced knowledge allowing business owners to build and grow their companies.
Some schools offer a degree in Business Administration with minor in Entrepreneurship. Additionally, a number of business schools offer certificates in entrepreneurship, either at the undergraduate or graduate level. Some certificate programs are designed as an adjunct to a business degree while others are geared towards working business owners who may not have previous business education.
Schools
Many business schools offer either a major or minor in entrepreneurship. A number of online programs are available as well, which are often targeted towards working professionals who want to take classes part-time.
Coursework
In addition to standard business courses such as accounting, finance and marketing, entrepreneurship students may take courses such as the following:
- Entrepreneurship via Acquisitions
- Intellectual Capital and Competitive Strategy
- Private Equity Finance
- Financing Research Commercialization
- Managing Enterprise Risk
- Venture Capital Finance
- New Venture Formation
- Business Law for Entrepreneurs
- Small Business Management
- Corporate Innovation & New Ventures
Aptitudes and Interests
Entrepreneurs must have the drive, motivation and discipline that is required to handle the many challenges and surprises that arise when starting or building a business. Entrepreneurs need to have the confidence to take calculated risks and have the business skills in marketing, finance and communication that will maximize their chances for success.
Career Options
Those who graduate with a degree in Entrepreneurship are ready to start a new business, run a family business or launch a new venture within an existing company. Some graduates become venture capitalists.
Related Majors
Similar majors to Entrepreneurship include:
- Business Administration / Business Management
- Business Marketing
- Business Finance
- International Business
How to Evaluate Entrepreneurship Degree Programs
Some things to look for when choosing an Entrepreneurship program include:
- Faculty – More than for most majors, it is important for faculty in this major to have real-world experience in running their own business.
- Internships - Lessons learned during an internship in a start-up business can provide invaluable real-world experiences that will have a direct impact on one's future business.
- External Involvement - Some programs involve community entrepreneurs as guest speakers, student mentors and as reviewers of students' business plans.
Free Online Courses
Someone considering a degree in Entrepreneurship may want to look at the free course materials listed below, which will give them an idea of the type of coursework they will encounter.
- MIT's Sloan School of Management:
- Developmental Entrepreneurship – course on starting businesses in developing countries.
- Managing Innovation and Entrepreneurship - course focused on technological innovation and entrepreneurship.
- Kutztown University of Pennsylvania's Small Business Development Center: On-demand online learning programs for small businesses.
Resources
Collegiate Entrepreneurs' Organization
National Federation of Independent Business
National Association for the Self-Employed
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