Business owner education requirements

Q: What degree do you need to be a business owner?

You do not need a specific degree to be a business owner, though a Master's in Business Administration (MBA) is a great degree to hold to prepare yourself to own your own business. In the program, you will be taught how to successfully run all parts of a business. Many business owners find that during undergraduate studies, it is helpful to focus on one single vocation, such as finance, accounting, or human resource management. These degrees help you to have a very specific understanding of one part of your business, and could help you to focus later as your business grows. However, there are undergraduate degrees such as entrepreneurship that will focus primarily on starting and running your own business. These can be especially useful if you do not plan on obtaining an MBA. And while you do not need a degree to start your own business, the education and skills gained through education are incomparable.

Q: What degree do you need to run a business?

You do not need a specific degree to run a business, but a Master's in Business Administration (MBA) is a great degree to prepare yourself. An MBA will give you a solid foundation. In the program, you will be taught how to successfully run all parts of a business. There are no specific undergraduate requirements to enter an MBA program, but many people find it helpful to focus on one single vocation such as finance, accounting, or human resource management. These degrees help you gain a very specific understanding of one part of your business, and could help you to focus later as your business grows. However, there are often undergraduate degrees such as entrepreneurship that will focus primarily on starting and running your own business. These can be especially useful if you do not plan on obtaining an MBA and plan on running your own business.

Q: What degree do you need to start a business?

You do not need a specific degree to start a business, but a Master's in Business Administration (MBA) is a great degree to prepare yourself to start your own business. In the program, you will be taught how to successfully run all parts of a business. Many business owners find that during undergraduate studies, it is helpful to focus on one single vocation such as finance, accounting, or human resource management. These degrees help you to have a very specific understanding of one part of your business, and could be helpful to focus yourself later as your business grows. However, there are often undergraduate degrees such as entrepreneurship that will focus primarily on starting and running your own business. These can be especially useful if you do not plan on obtaining an MBA. And while you do not need a degree to start your own business, the education and skills gained through education are incomparable.

Q: What to major in to own a dispensary?

You should major in business to own a dispensary. A business degree will provide you with all of the necessary foundational knowledge needed to open and operate a dispensary business. A business degree focuses on these areas: Theories of finance Marketing Management Administration

Updated January 8, 2025

4 min read

There are several educational requirements to become a business owner. Business owners usually study business, psychology, or accounting. 52% of business owners hold a bachelor's degree, and 21% hold an associate degree. We analyzed 35,646 real business owner resumes to see exactly what business owner education sections show.

The most common colleges for business owners are the University of Phoenix and the University of Phoenix.

There are also many online business owner courses to help get the education required to be a business owner.

There are certain business owner certifications that you should consider. These business owner certifications include Certified Management Accountant (CMA) and Certified Sales Professional (CSP).

What education do you need to become a business owner?

What degree do you need to be a business owner?

The most common degree for business owners is bachelor's degree, with 52% of business owners earning that degree. The second and third most common degree levels are associate degree degree at 21% and associate degree degree at 10%.

Bachelor's, 52%

Associate, 21%

High School Diploma, 10%

Master's, 9%

Other Degrees, 8%

What should I major in to become a business owner?

You should major in business to become a business owner. 34% of business owners major in business. Other common majors for a business owner include psychology and accounting.

Business, 34%

Psychology, 6%

Accounting, 6%

Marketing, 5%

Other Majors, 49%

Most common colleges for business owners

Business owners often get their degrees at University of Phoenix, Arizona State University, and Western Washington University. Here are the most common colleges for business owners in the US based on their resumes.

Business owner common college	Percentages
University of Phoenix	24.33%
Arizona State University	6.05%
Western Washington University	5.40%
University of Maryland - College Park	4.75%
DeVry University	4.63%

Show more common business owner colleges

Best majors for business owners

Rank	Major	Percentages
1	Business	33.8%
2	Psychology	6.3%
3	Accounting	6.1%
4	Marketing	4.8%
5	Communication	4.1%

Show more common business owner majors

$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

20 best online courses for business owners

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6. Start & Operate Your Own Successful Office Cleaning Business

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4.6

(2,563)

A practical guide with cases studies how to analyze and improve a retail business during management consulting projects...

8. U.S. Residential Real Estate, Property & Mortgage Business

4.6

(2,324)

Property & Mortgage Underwriting Loan Processing Financial Analysis Mortgage Operations Origination...

9. QuickBooks Payroll - QuickBooks Online

4.5

(319)

Processing Quick Books Online payroll for a small business, generating paychecks, processing payroll tax forms...

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Top 10 most affordable universities for business owners

The most affordable schools for business owners are Baruch College of the City University of New York, university of florida, and florida state university.

If the best universities for business owners are out of your price range, check out these affordable schools. After factoring in in-state tuition and fees, the average cost of attendance, admissions rate, average net price, and mean earnings after six years, we found that these are the most affordable schools for business owners.

1. Baruch College of the City University of New York

New York, NY • Private

In-state tuition

$7,262

Cost of attendance

14,046

2. University of Florida

Gainesville, FL • Private

In-state tuition

$6,381

Cost of attendance

21,034

3. Florida State University

Tallahassee, FL • Private

In-state tuition

$5,656

Cost of attendance

21,623

4. Brigham Young University

In-state tuition

$8,306

Cost of attendance

16,091

Top 10 hardest universities to get into for business owners

The hardest universities for business owners to get into are Northwestern University, University of Pennsylvania, and University of Southern California.

Some great schools for business owners are hard to get into, but they also set your career up for greater success. The list below shows the most challenging universities to get into for business owners based on an institution's admissions rates, average SAT scores accepted, median ACT scores accepted, and mean earnings of students six years after admission.

1. Northwestern University

Evanston, IL • Private

Admissions rate

SAT average

1,508

2. University of Pennsylvania

Philadelphia, PA • Private

Admissions rate

SAT average

1,492

3. University of Southern California

Los Angeles, CA • Private

Admissions rate

13%

SAT average

1,445

4. Northeastern University

Boston, MA • Private

Admissions rate

19%

SAT average

1,466

5. Carnegie Mellon University

Pittsburgh, PA • Private

Admissions rate

17%

SAT average

1,507

6. New York University

New York, NY • Private

Admissions rate

20%

SAT average

1,419

7. Boston University

Boston, MA • Private

Admissions rate

22%

SAT average

1,420

8. University of Miami

Coral Gables, FL • Private

Admissions rate

32%

SAT average

1,365

9. Lehigh University

Bethlehem, PA • Private

Admissions rate

22%

SAT average

1,380

10. George Washington University, The

Washington, DC • Private

Admissions rate

42%

Plainview, TX • Private

Admissions rate

98%

SAT average

1,003

Average business owner salary by education level

According to our data, business owners with a Master's degree earn the highest average salary, at $73,941 annually. Business owners with a Doctorate degree earn an average annual salary of $70,031.

Business owner education level	Business owner salary
Master's Degree	$73,941
High School Diploma or Less	$44,395
Bachelor's Degree	$59,594
Doctorate Degree	$70,031
Some College/ Associate Degree	$46,387

Business owner education FAQs

What degree do you need to be a business owner?

What degree do you need to run a business?

What degree do you need to start a business?

What to major in to own a dispensary?

What is the best college for Business Owners?

Have more questions? See all answers to common executive management questions.

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Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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