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Choose a Business Degree for a New Future |  |
MBA Insights: The Path to Entrepreneurship
June 19, 2007
by Francine L. Huff
Business Programs Columnist
America has become a nation of entrepreneurs. IRS tax returns show that the number of small businesses in the U.S. rose to about 32 million in 2006, compared with 14.7 million in 1977. Also, about one in 12 adults is actively trying to start a business. You, too, can get started on the path toward entrepreneurship by earning an MBA.
MBA Can Prepare You for Ownership
While many entrepreneurs fly by the seat of their pants and launch businesses with no formal training, enrolling in an MBA degree program can help you acquire some important skills that may help you succeed as a small business owner. An entrepreneurship MBA can help you hone your leadership skills, learn to identify new business opportunities, analyze product development, and use technology for launching business initiatives. MBA degree programs are also great places to network with other future business leaders.
If you're not ready to enter an MBA degree program, you can also study for a busines administration bachelor's degree that offers courses in entrepreneurship. Overall, about 1,600 U.S. schools offer entrepreneurship courses, according to a Baylor University study.
Women Embrace Entrepreneurship
The number of American entrepreneurs has swelled in part because more women and minorities have decided to start their own businesses. The number of women-owned business has grown twice as fast as all business over the past 20 years, according to the Center for Women's Business Research. In fact, the center reports that about 10.4 million women now own their own business.
MBA Can Advance Your Career
Getting an entrepreneurship MBA can help you prepare for the challenges that go with owning a small business. An MBA degree program that focuses on entrepreneurship can also prepare you to lead new ventures at established companies. Whatever career path you plan, getting an MBA can give you a good foundation for future success.
Sources
About the Author
Francine L. Huff is a freelance journalist and the author of The 25-Day Money Makeover for Women. She has appeared on a variety of TV and radio shows.
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