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Do I need a college degree to open a company?
Is it essential to have a degree in business management, or business administration to open a company.
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12 answers
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Briana’s Answer
Hi, Kaidiatou,
You don't need a degree to start a company, but it can be very helpful for many reasons. Firstly, it gives you a working knowledge of accounting, business administration, management, human resources, etc. that are necessary for starting a successful business. Do you know how to create a start-up budget? How to apply for business loans? How to contact and utilize the SBA? How taxes work for different types of businesses? How to keep your books in case of audits? If not, you should look into a degree or ar least a certification in business or entrepreneurship. Second, having a degree can help give you legitimacy if/when you look for business start-up loans. You're more likely to get a loan, be eligible for a larger variety of loans and grants, and be more likely to be granted a larger amount. Last, getting a degree or certification can help you in getting a mentor or advisor to help you through the business process moving forward.
Good luck!
You don't need a degree to start a company, but it can be very helpful for many reasons. Firstly, it gives you a working knowledge of accounting, business administration, management, human resources, etc. that are necessary for starting a successful business. Do you know how to create a start-up budget? How to apply for business loans? How to contact and utilize the SBA? How taxes work for different types of businesses? How to keep your books in case of audits? If not, you should look into a degree or ar least a certification in business or entrepreneurship. Second, having a degree can help give you legitimacy if/when you look for business start-up loans. You're more likely to get a loan, be eligible for a larger variety of loans and grants, and be more likely to be granted a larger amount. Last, getting a degree or certification can help you in getting a mentor or advisor to help you through the business process moving forward.
Good luck!
This was very insightful, thank you!
Kadiatou
Updated
Chirayu’s Answer
No, you do not necessarily need a college degree to open a company. Many successful entrepreneurs have started and grown successful businesses without formal education. However, having a degree in business management or business administration can provide you with knowledge and skills that may be helpful in starting and running a business. A degree in business management or administration can provide you with knowledge in areas such as accounting, finance, marketing, and human resources, which can be helpful in managing and growing a business. Additionally, a degree can help you build a network of contacts in the business world that can be useful in starting and growing your business. That being said, a degree is not the only way to gain the knowledge and skills needed to start a business. There are many resources available, such as books, online courses, and mentorship programs that can help you gain the knowledge and skills you need to start and run a successful business. Ultimately, whether or not you need a college degree to start a business depends on the type of business you want to start, your personal goals and ambitions, and your own strengths and weaknesses.
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Kim’s Answer
That's such an important question to ask, and kudos to you for seeking further input in order to plan a future that will be fulfilling for you. In addition to all of the great advice and opinion given here, I would like to add an experience I'm currently undertaking. As an artist and designer, I have started a few businesses throughout my career, without possessing any business degrees. The road to long term business success is filled with many twists and turns, and can be difficult and highly stressful and more so without having important knowledge. The business startups that I started earlier in my career were great learning experiences.
In starting a new business now, one that I want to be sustainable for many years, I am using the services of a Business Coach. A Business Coach will guide you through and help create the accounting systems, legal requirements, insurance and related necessities you need to have in place for financial viability and success. This is an alternate way to be prepared if you choose not to pursue a degree. It's best to shop around for the right coach for the type of business you want to create, and what you will want to have in hand when you complete the coaching process. Personality fit will also contribute to your experience. Additionally, many courses are available for a fee through the Small Business Administration Website. Best to you and your aspirations in life!
In starting a new business now, one that I want to be sustainable for many years, I am using the services of a Business Coach. A Business Coach will guide you through and help create the accounting systems, legal requirements, insurance and related necessities you need to have in place for financial viability and success. This is an alternate way to be prepared if you choose not to pursue a degree. It's best to shop around for the right coach for the type of business you want to create, and what you will want to have in hand when you complete the coaching process. Personality fit will also contribute to your experience. Additionally, many courses are available for a fee through the Small Business Administration Website. Best to you and your aspirations in life!
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david’s Answer
Good question. No, you do not, and many small businesses thrive with just HS education and occasional professional advice. That is, even if you have a college degree in business, you will still need professional advice on occasion. College does not give you the steps to go into business, but it does make you aware of many aspects. A degree opens many windows of knowledge for a variety of business interests, but you can do the business without it. You will need occasional advice from your bank, from a tax advisor, and an attorney, the same as a college grad would need. But before you start, make sure you are ready for the commitment and have the funds to 1) start the business and, 2) sustain your livelihood until the business starts showing a profit.
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Akinwumi M’s Answer
No, it is not essential to have a degree in business management or business administration to open a company. While having a degree in these fields can certainly provide a strong foundation of knowledge and skills, there are many successful entrepreneurs who have started companies without such a degree.
In fact, many successful entrepreneurs have backgrounds in other fields, such as engineering, art, or science. What is most important is having a solid understanding of your industry, a clear vision for your company, and the drive and determination to make it succeed.
That being said, it's important to recognize that starting and running a company can be challenging, and there are many skills and knowledge areas that can be helpful in the process. If you don't have a business background, it may be beneficial to seek out resources, such as mentorship, networking opportunities, or classes and workshops, to help you learn and grow as a business owner.
In fact, many successful entrepreneurs have backgrounds in other fields, such as engineering, art, or science. What is most important is having a solid understanding of your industry, a clear vision for your company, and the drive and determination to make it succeed.
That being said, it's important to recognize that starting and running a company can be challenging, and there are many skills and knowledge areas that can be helpful in the process. If you don't have a business background, it may be beneficial to seek out resources, such as mentorship, networking opportunities, or classes and workshops, to help you learn and grow as a business owner.
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Michael’s Answer
Absolutely not. I have multiple success friends and family mambers who have started and succeeded in their own business adventures. You must be resourceful and willing to dedicate large amounts of time and energy to this business adventure. Make sure to ask questions and collaborate with others doing the same or similar things. If you understand that owning and opporating your own business is a challenge and you are ready to tackle those challenges, learn daily and be open to change you can make it work. Good luck in this adventure.
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josh’s Answer
A kid could start a business. There is no requirement to start a business other than depending on the nature of the business, setting up a legal entity with a state. Many business with no college degree are better than ones coming from Harvard
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Jacob’s Answer
No, it absolutely is not essential to have a business degree. Most small business owners do not.
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Scott’s Answer
As someone who has started a business without a college degree, I can tell you that it's definitely possible to do so. While having a college degree can be helpful in some cases, it's not a requirement for starting a business.
What's more important than having a degree is having the skills, knowledge, and determination needed to start and run a successful business. This can come from a variety of sources, such as work experience, mentorship, self-education, and networking.
In fact, some of the most successful entrepreneurs in the world don't have college degrees. They've built their businesses based on their passion, drive, and willingness to learn and adapt.
That being said, if you're looking to start a business in a field such as medicine, engineering, or law, you may need to have a college degree and/or specific certifications or licenses.
Overall, my advice to you would be to focus on building the skills and knowledge you need to start and run a successful business. This can come from a variety of sources, such as taking courses, attending workshops, reading books, and learning from other entrepreneurs.
Don't let the lack of a college degree hold you back from pursuing your dreams. With hard work, determination, and a willingness to learn, you can achieve success as an entrepreneur.
I believe in you, Kadiatou, and wish you all the best on your entrepreneurial journey!
What's more important than having a degree is having the skills, knowledge, and determination needed to start and run a successful business. This can come from a variety of sources, such as work experience, mentorship, self-education, and networking.
In fact, some of the most successful entrepreneurs in the world don't have college degrees. They've built their businesses based on their passion, drive, and willingness to learn and adapt.
That being said, if you're looking to start a business in a field such as medicine, engineering, or law, you may need to have a college degree and/or specific certifications or licenses.
Overall, my advice to you would be to focus on building the skills and knowledge you need to start and run a successful business. This can come from a variety of sources, such as taking courses, attending workshops, reading books, and learning from other entrepreneurs.
Don't let the lack of a college degree hold you back from pursuing your dreams. With hard work, determination, and a willingness to learn, you can achieve success as an entrepreneur.
I believe in you, Kadiatou, and wish you all the best on your entrepreneurial journey!
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
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Katherine’s Answer
You can learn a bunch about starting a business by reading Dave Ramsey's book Entreleadership and by checking out this course, Starting and Growing My Business (workbook here: https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf). Then you'll be able to see a little more clearly what you could do now and what you might want to study more about, whether you do that by way of schooling or in some other way.
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Dennis’s Answer
Starting a business is nothing more than having an idea, product or service that you believe people want or need that you make a reality. To be successful, there are many skills that you'll need. No one masters them all. Accounting, finance, marketing, management, personnel, sales, IT and, advertising are areas of expertise that every business will use. Getting a degree provides an excellent overview. The more you learn the better your chances of success.
Thank you so much for the advice.
Kadiatou
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to be an entrepreneur.
It is not a must to have a college degree to run a business but it will be helpful. Have you thought about what industry you would like to start your business?
Please find my suggestions below :
1. Think about the industries that you have interest or have strength on
2. Analyze the business, e.g. the competition, entry criteria, any substitute / alternative, etc.
3. Take relevant course of the industry and management courses
4. Work in the industry for a while to understand the business model and establish people network
5. Start the business online if possible.
Hope this helps! Good Luck!
It is not a must to have a college degree to run a business but it will be helpful. Have you thought about what industry you would like to start your business?
Please find my suggestions below :
1. Think about the industries that you have interest or have strength on
2. Analyze the business, e.g. the competition, entry criteria, any substitute / alternative, etc.
3. Take relevant course of the industry and management courses
4. Work in the industry for a while to understand the business model and establish people network
5. Start the business online if possible.
Hope this helps! Good Luck!
Thanks for the help.
Kadiatou