Business co-owner vs business owner

The differences between business co-owners and business owners can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a business co-owner and a business owner. Additionally, a business co-owner has an average salary of $82,255, which is higher than the $50,934 average annual salary of a business owner.

The top three skills for a business co-owner include customer service, financial statements and market research. The most important skills for a business owner are customer service, payroll, and financial statements.

Business co-owner vs business owner overview

	Business Co-Owner	Business Owner
Yearly salary	$82,255	$50,934
Hourly rate	$39.55	$24.49
Growth rate	6%	6%
Number of jobs	99,125	107,663
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 52%
Average age	47	44
Years of experience	6	6

Business co-owner vs business owner salary

Business co-owners and business owners have different pay scales, as shown below.

	Business Co-Owner	Business Owner
Average salary	$82,255	$50,934
Salary range	Between $65,000 And $103,000	Between $27,000 And $94,000
Highest paying City	-	Seattle, WA
Highest paying state	-	Washington
Best paying company	-	BD
Best paying industry	-	Retail

Differences between business co-owner and business owner education

There are a few differences between a business co-owner and a business owner in terms of educational background:

	Business Co-Owner	Business Owner
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	Western Carolina University	University of Pennsylvania

Business co-owner vs business owner demographics

Here are the differences between business co-owners' and business owners' demographics:

	Business Co-Owner	Business Owner
Average age	47	44
Gender ratio	Male, 43.3% Female, 56.7%	Male, 51.4% Female, 48.6%
Race ratio	Black or African American, 9.3% Unknown, 5.0% Hispanic or Latino, 15.8% Asian, 6.7% White, 62.6% American Indian and Alaska Native, 0.7%	Black or African American, 6.3% Unknown, 4.3% Hispanic or Latino, 15.5% Asian, 6.4% White, 67.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	10%

Differences between business co-owner and business owner duties and responsibilities

Business co-owner example responsibilities.

Manage the day to day operation/financial operations of Medicare certify home health agency.
Procure and train for new POS system.
Design a business website and Facebook site to promote and interact with customers.
Support weekly and monthly business invoice statements using QuickBooks.
Provide full service general remodeling service specializing in custom windows and doors installation.
Maintain all record-keeping for inventory integrity, accurate financial reporting to include payroll, invoicing, account collections and tax reporting.

Business owner example responsibilities.

Manage the budget and insure operations run smoothly.
Create, own and manage a LLC for grind pet transportation.
Establish and manage a beading boutique via the Internet by utilizing Photoshop to post designs on a personal website.
Manage sales, customer service, billing, A/P, A/R, vendor relations, negotiations, repairs, and maintenance.
Manage end to end business operations including hiring, scheduling visits, conducting customer consultations and performing pet visits.
Handle all aspects from A/P to A/R, payroll, ordering and dealing with all distributors and city officials.

Business co-owner vs business owner skills

Common business co-owner skills

Customer Service, 24%
Financial Statements, 12%
Market Research, 8%
Business Plan, 7%
Business Operations, 4%
Business Management, 4%

Common business owner skills

Customer Service, 31%
Payroll, 12%
Financial Statements, 9%
Business Plan, 7%
Business Model, 3%
Real Estate, 2%