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The differences between business owners and business partners can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a business owner, becoming a business partner takes usually requires 8-10 years. Additionally, a business partner has an average salary of $96,324, which is higher than the $50,934 average annual salary of a business owner.
The top three skills for a business owner include customer service, payroll and financial statements. The most important skills for a business partner are analytics, project management, and customer service.
| Business Owner | Business Partner | |
| Yearly salary | $50,934 | $96,324 |
| Hourly rate | $24.49 | $46.31 |
| Growth rate | 6% | 10% |
| Number of jobs | 107,663 | 106,251 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 65% |
| Average age | 44 | 39 |
| Years of experience | 6 | 10 |
Business owners, also known as Entrepreneurs, are responsible for their company and brand's success. There are many areas of responsibility when you're a business owner, such as in the aspects of planning and budgeting, arranging finances and legal documentation, and even hiring the workforce essential for the business to grow. However, these responsibilities will vary according to how a business owner will uphold them. Moreover, building a business from the ground up requires dedication and a vision and mission for the brand.
A business partner is an individual who is involved in a legal business partnership with other individuals to manage a business as co-owners. Business partners invest their money into the business, and each partner benefits from any profits and sustains part of any losses. They must file with the state in which they do business and are governed mostly by state laws. Business partners can also be either liable or not for the actions taken by the company.
Business owners and business partners have different pay scales, as shown below.
| Business Owner | Business Partner | |
| Average salary | $50,934 | $96,324 |
| Salary range | Between $27,000 And $94,000 | Between $66,000 And $140,000 |
| Highest paying City | Seattle, WA | San Francisco, CA |
| Highest paying state | Washington | Washington |
| Best paying company | BD | ZS |
| Best paying industry | Retail | Technology |
There are a few differences between a business owner and a business partner in terms of educational background:
| Business Owner | Business Partner | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Georgia |
Here are the differences between business owners' and business partners' demographics:
| Business Owner | Business Partner | |
| Average age | 44 | 39 |
| Gender ratio | Male, 51.4% Female, 48.6% | Male, 56.2% Female, 43.8% |
| Race ratio | 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% | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 10% |