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The differences between business team leaders 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 team leader and a business owner. Additionally, a business team leader has an average salary of $101,197, which is higher than the $50,934 average annual salary of a business owner.
The top three skills for a business team leader include project management, direct reports and customer satisfaction. The most important skills for a business owner are customer service, payroll, and financial statements.
| Business Team Leader | Business Owner | |
| Yearly salary | $101,197 | $50,934 |
| Hourly rate | $48.65 | $24.49 |
| Growth rate | 6% | 6% |
| Number of jobs | 117,491 | 107,663 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 52% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
A business team leader oversees the activities of team members and leads them to reach project goals. They are responsible for establishing objectives and deadlines, setting guidelines, promoting policies and regulations, and developing strategies to complete tasks efficiently. Most business team leaders report directly to managers, regularly coordinating for a smooth workflow. Moreover, a business team leader is also in charge of delegating duties among staff, supervising performances, training new team members, monitoring the team's overall operations, and solving issues and concerns if any arise.
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.
Business team leaders and business owners have different pay scales, as shown below.
| Business Team Leader | Business Owner | |
| Average salary | $101,197 | $50,934 |
| Salary range | Between $71,000 And $143,000 | Between $27,000 And $94,000 |
| Highest paying City | Mahwah, NJ | Seattle, WA |
| Highest paying state | New Jersey | Washington |
| Best paying company | Meta | BD |
| Best paying industry | Technology | Retail |
There are a few differences between a business team leader and a business owner in terms of educational background:
| Business Team Leader | Business Owner | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business team leaders' and business owners' demographics:
| Business Team Leader | Business Owner | |
| Average age | 44 | 44 |
| Gender ratio | Male, 59.2% Female, 40.8% | Male, 51.4% Female, 48.6% |
| Race ratio | Black or African American, 6.1% Unknown, 4.3% Hispanic or Latino, 15.0% Asian, 6.3% White, 67.8% American Indian and Alaska Native, 0.5% | 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 | 10% | 10% |