Degrees and Certificates Needed to Become a Business Owner

While not essential, having them can make running a business easier and increase your chances of success.

Becoming a business owner does not require a specific degree or formal certification, but certain educational paths and credentials can improve your chances of success. Many entrepreneurs benefit from studying fields such as business administration, finance, marketing, or management, which provide essential skills for running a company.

Additionally, earning professional certificates—for example in project management, accounting, or digital marketing—can enhance your knowledge, credibility, and business network. Ultimately, while formal education can help, practical experience, leadership skills, and a strong understanding of your industry are just as important for building a successful business.

Becoming a Business Owner: Degrees and Certifications

Whether you dream of launching the next tech start-up or taking over a family-run restaurant, becoming a business owner is a goal that attracts many aspiring entrepreneurs. With countless types of businesses available, there are also multiple paths to achieving that goal. Knowing which degrees and certifications can support your journey may give you an advantage.

Key Takeaways

1. Entrepreneurs don’t need a degree to start a business or be successful.
2. In the U.S., individuals without college degrees are often more likely to launch businesses than graduates.
3. Obtaining a degree or field-specific certification can enhance your skills and knowledge.
4. Useful degree programs include business, marketing, communications, and accounting.
5. Joining clubs, mentorship programs, or professional societies can provide valuable learning opportunities.

Required Education for Entrepreneurs and Business Owners

Many business owners provide the services their company offers—for example, a doctor may run their own clinic, or an auto repair shop owner might work on vehicles themselves. However, this hands-on involvement isn’t mandatory.

Most businesses do not require owners to hold a university degree or professional certification. You can legally and financially manage a business without personally providing the services it offers.

Note:

Some professions do require state licensing (e.g., healthcare, barbers, or specialized trades). Always check with relevant state agencies to ensure compliance.

While not mandatory, pursuing classes, certifications, or a business degree can be helpful. These programs offer structured learning, mentorship opportunities, and practical experience you can later apply to your own business.

Degrees and Programs for Entrepreneurs

Pursuing a certificate or degree in your industry can be particularly beneficial for skilled trades or specialized fields:

1. Food truck owners: Hospitality or culinary programs
2. App developers: Technology or IT certificate programs

Other popular degree paths for entrepreneurs include:

1. Business
2. Hospitality
3. Marketing
4. Economics
5. Finance
6. Accounting
7. Communications

Note:

Worldwide, college graduates are more likely to start businesses. Interestingly, in the U.S., non-graduates often start businesses at higher rates.

Certifications for Entrepreneurs and Small Business Owners

No single certification is required to own a business. However, targeted certifications can help expand your skills or strengthen specific areas of your business. Examples include:

1. Industry-specific certifications: IT, technology, hospitality, or other trades
2. General business certifications: For instance, Certiport’s Entrepreneurship and Small Business (ESB) certification can provide tools for managing and growing a business

These certifications can help you develop practical skills, increase your credibility, and give your business a competitive edge.

Other Ways to Learn

Building business knowledge takes time, and learning doesn’t only happen in schools or formal programs. Many successful business owners expand their skills through alternative resources, such as:

1. Seminars and webinars
2. Industry conferences and events
3. Mentorship programs
4. Clubs and business groups, like the Chamber of Commerce
5. Magazines, blogs, journals, books, and whitepapers
6. Interviews with experienced professionals

Entrepreneurs who embrace continuous learning—so-called “life-long learners”—often adapt better and thrive in business.

Required Skills

While formal education is helpful, hands-on experience is often even more valuable. Growing up around a family business, observing daily operations, or participating in the work directly can teach practical skills that no classroom can fully replicate.

Some essential skills for successful business ownership include:

1. Strong interpersonal skills and the ability to work well with diverse people
2. Commitment and dedication to growing the business
3. Attention to detail and the ability to identify problems and improvements
4. Strong writing, reading, and analytical skills
5. Ability to prioritize and manage time effectively
6. Knowledge of basic finance, bookkeeping, and taxes
7. Understanding market dynamics, supply, and demand

Experience is not mandatory; many entrepreneurs learn on the job or hire experts to manage aspects of the business while they transition into ownership.

Entrepreneur Career Outlook and Growth

The success of a business depends on many factors, including the industry market, the entrepreneur’s skills, and the broader economy.

According to the Bureau of Labor Statistics (BLS), the future for self-employed workers is promising, with a projected 7.9% growth rate by 2026, slightly higher than the 7.4% projected for all workers. As of August 2022, the average income for a business owner was $49,912.

Frequently Asked Questions (FAQs)

What degree do you need to be a business owner?

You don’t need a degree to own a business. However, earning a degree in business, marketing, or communications can strengthen your skills and knowledge.

What certifications do you need to be an entrepreneur?

There is no universal certification required to start a business. You should, however, check local and state requirements for any licenses or permits needed to legally operate your company.

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