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How helpful would a B.S. in Business degree be if I want to own my own business?

I know it is not required to own your own business but how helpful would it really be? Do people who have a degree/background in business tend to do better when they open their own business verses someone who does not have a degree/background in business? Just curious.

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Asked by Anonymous at 3:07 PM on Aug. 24, 2010 in Money & Work

Answers (9)
  • I think it really depends on what business you're opening. I think it could be really helpful, but I'm not sure if it'd be more helpful then just going to seminars or something like that.

    Answer by Mom2unangel at 3:09 PM on Aug. 24, 2010

  • My husband and I opened up our business last year and we both have BA in unrelated fields. When we went to college, we had no idea a business was in our future. We've had to teach ourself a lot of things by reading business books and reading, reading and reading some more. We also too advantage of SCORE's service and other agencies that help small business. So based on our experiences, I would say that a BS in business would be extremely helpful and you might want to take some marketing classes as well.

    Also, seeing as you have an interest in small business, I'd like to invite you to join my CM business group.  Many of our group members are small business owners and we're a support group not an advertising group.


    Answer by HotMama330 at 3:14 PM on Aug. 24, 2010

  • I am in business for myself now, however I plan on doing it before I open my own salon. I want a good background to start with, and as business savvy as I already am, I can't imagine how far I'd go with instruction! Not to mention if it doesn't work out there are a lot of jobs that require it.

    Answer by Musicmom80 at 3:23 PM on Aug. 24, 2010

  • I have had 4 businesses of my own and helped start up another..had a BA in Home Ec, of all things, and an AA in business management. They helped with the basics, accounting, English...but I really just had to jump in and do it!

    Answer by Gene_Godwin at 5:33 PM on Aug. 24, 2010

  • Understanding basic bookkeeping, management, how to read finacial statements, are all important skills for running a business.

    Have you written your business plan?

    Answer by rkoloms at 9:57 PM on Aug. 24, 2010

  • I would recommend you have a degree in business and accounting with a few Law courses added. It is not easy having a business....all kinds of legal things involved. and accounting,tax issues. Good luck.

    Answer by gertie41 at 10:15 PM on Aug. 24, 2010

  • A business degree can't hurt especially if you ever plan on getting a small business loan and do not have enough real life experience in the business category you are in.

    At the end of the day, it is the fiber, the guts and the strategic planning that will get you were you set your target.

    Good Luck.

    Rhonda G.

    Answer by MasterMindMom at 11:54 AM on Aug. 25, 2010

  • It will help because you will learn economics, taxes, management, etc which are subjects you can apply effectively when you do business.

    Answer by song888 at 3:26 PM on Aug. 25, 2010

  • Well, if you are wanting to do an at home business and own your own business that way then you would not need one, but if you are wanting to go further I believe classes will help you tremendously! I would love to share with you my jouney with at home business I have been a part of that requires no degree!

    Answer by arbnmom at 10:38 AM on Aug. 27, 2010

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