Do you need a degree to start a business? Technically, no, but that doesn’t mean you shouldn’t get one. Especially for industries that are more technical and complex in nature, a college degree can be very beneficial, sometimes even necessary, to your success. If you have little to no knowledge about how business works, or plan on managing complex documents and processes, it may be in your best interest to brush up on your skills with a few college courses.
Although you may know that it is technically possible to start a business without a college education, how do you know which career path is right for you? It is important to answer several key questions before making a decision about starting a business versus pursuing higher education.
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Those facing this decision should take the time to answer these questions honestly and evaluate if the pros of starting a business will outweigh the cons of quitting school. Grech said getting a degree, or at least some form of higher education, can be very helpful for starting your own business. She said the college experience teaches you skills like ownership, accountability, time management, prioritizing and emotional maturity.
“It may not be essential within certain career choices; however, it really helped me personally,” said Grech. “My education helped me develop a proper business model, enabled me to understand certain law documents or tax laws by giving me the ability to think critically and analytically, and provided the tools necessary to read through these documents thoroughly.”
Even if you can successfully break into your industry without a college degree, you will likely need some form of continued education to be an entrepreneur – even if that education is informal.