Congrats! You opened your own business. Now what? Now, you get to sit back, relax and let everyone else do the hard work, right? Wrong. During the beginning stages of a new business it is so important that the boss is around for the day-to-day operations.

Typically, business owners put in well-above the regular 40-hour week. In fact, you might even have to put in 60 hours a week. At least until your business is extremely successful and can continue to survive without you around all the time. It's hard work as a business owner, but at least you get to be the boss.

Speaking of being the boss, don't forget to hire some people so you don't have to boss yourself around. Once your business starts to take off, you'll want to hire employees to help out. You'll find out quickly that you, indeed, cannot be everywhere all at once.

What Does a Business Owner Do

There are certain skills that many business owners have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed communication skills, leadership skills and management skills.

Learn more about what a Business Owner does

How To Become a Business Owner

If you're interested in becoming a business owner, one of the first things to consider is how much education you need. We've determined that 52.2% of business owners have a bachelor's degree. In terms of higher education levels, we found that 8.8% of business owners have master's degrees. Even though most business owners have a college degree, it's possible to become one with only a high school degree or GED.

Business Owner Career Paths

Average Salary for a Business Owner

Business Owners in America make an average salary of $50,934 per year or $24 per hour. The top 10 percent makes over $94,000 per year, while the bottom 10 percent under $27,000 per year.
Average Business Owner Salary
$50,934 Yearly
$24.49 hourly
$27,000
10%
$50,000
Median
$94,000
90%

What Am I Worth?

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How To Become a Business Owner
How To Become a Business Owner Career Overview

States With The Most Business Owner Jobs

Mouse over a state to see the number of active business owner jobs in each state. The darker areas on the map show where business owners earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Business Owner Jobs By State

Business Owner Education

Business Owner Majors

33.8 %

Business Owner Degrees

Bachelors

52.2 %

Associate

21.4 %

High School Diploma

10.3 %

Top Colleges for Business Owners

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

5. Pennsylvania State University

University Park, PA • Private

In-State Tuition
$18,454
Enrollment
40,108

6. University of Texas at Austin

Austin, TX • Private

In-State Tuition
$10,610
Enrollment
40,329

7. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

8. Northeastern University

Boston, MA • Private

In-State Tuition
$51,522
Enrollment
13,760

9. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

10. Lehigh University

Bethlehem, PA • Private

In-State Tuition
$52,930
Enrollment
5,030

Top Skills For a Business Owner

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 30.6% of business owners listed customer service on their resume, but soft skills such as communication skills and leadership skills are important as well.

  • Customer Service, 30.6%
  • Payroll, 11.5%
  • Financial Statements, 9.5%
  • Business Plan, 6.7%
  • Business Model, 3.2%
  • Other Skills, 38.5%

Choose From 10+ Customizable Business Owner Resume templates

Zippia allows you to choose from different easy-to-use Business Owner templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Business Owner resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Business Owner Demographics

Business Owner Gender Distribution

Male
Male
51%
Female
Female
49%

After extensive research and analysis, Zippia's data science team found that:

  • Among business owners, 48.6% of them are women, while 51.4% are men.

  • The most common race/ethnicity among business owners is White, which makes up 70.8% of all business owners.

  • The most common foreign language among business owners is Spanish at 54.3%.

Work Experience Programs For Business Owners

Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!

Workplace Preparation Program

Company: ANZ

Cost: Free

Duration: 5-6 hours

Digital Intelligence in Business Transformation Program

Company: PwC Switzerland

Cost: Free

Duration: 7-8 hours

Business and Human Rights Program

Company: Clifford Chance

Cost: Free

Duration: 7.5-8.5 hours

Process Design Program

Company: Accenture North America

Cost: Free

Duration: 5-6 hours

Asset Management Program

Company: JPMorgan Chase

Cost: Free

Duration: 5-6.5 hours

Human Resources Program

Company: General Electric

Cost: Free

Duration: 5-6 hours

Getting Ready to Join the Workforce Program

Company: Standard Bank

Cost: Free

Duration: 4-4.5 hours

Women in Commercial Real Estate Program

Company: JLL

Cost: Free

Duration: 2-3 hours

Global Finance and Business Management Program

Company: JPMorgan Chase & Co.

Cost: Free

Duration: 4-5 hours

Excel Skills for Business Program

Company: Goldman Sachs

Cost: Free

Duration: 4-5 hours

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Best States For a Business Owner

Some places are better than others when it comes to starting a career as a business owner. The best states for people in this position are Washington, New Jersey, New York, and California. Business owners make the most in Washington with an average salary of $120,339. Whereas in New Jersey and New York, they would average $110,331 and $109,284, respectively. While business owners would only make an average of $102,886 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Washington

Total Business Owner Jobs: 1,712
Highest 10% Earn:
$179,000
Location Quotient:
0.95

2. Pennsylvania

Total Business Owner Jobs: 4,194
Highest 10% Earn:
$144,000
Location Quotient:
1.46

3. Wisconsin

Total Business Owner Jobs: 2,248
Highest 10% Earn:
$138,000
Location Quotient:
1.65
Full List Of Best States For Business Owners

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Top Business Owner Employers

Most Common Employers For Business Owner

RankCompanyAverage SalaryHourly RateJob Openings
1eBay$123,584$59.42104
2Etsy$113,615$54.6219
3Amway$100,115$48.13549
4Landstar System$99,139$47.6627
5Herbalife Nutrition$89,703$43.1318
6Farmers Insurance$89,483$43.0226
7Aflac$89,324$42.9421
8USAA$88,282$42.4454
9LuLaRoe$83,993$40.3813
10Mary Kay$76,470$36.76118

Business Owner Videos

Becoming a Business Owner FAQs

How Long Does It Take To Become A Business Owner?

It takes 6 years of professional experience to become a business owner. That is the time it takes to learn specific business owner skills, but does not account for time spent in formal education. If you include the normal education requirements to complete a college degree, then it takes 9 to 11 years years to become a business owner.

What Are The Best Gifts For A Small Business Owner?

The best gifts for small business owners are practical gifts, such as plants, planners, and books. It is important to consider several factors when purchasing a gift for a small business owner, including:

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