There are a lot of decisions you need to make about college. Choosing a major is one of the most important decisions.
An entrepreneurship major is a college program that teaches about business development, marketing and management. This major prepares students to run their own businesses.
Many universities offer an entrepreneurship degree. (Google “colleges that offer an entrepreneur degree.”) A good place to start, however, is this U.S. News ranking of “best undergraduate entrepreneur programs.”
Here are some advantages and disadvantages of getting an entrepreneurship degree.
Advantages of a Major in Entrepreneurship
Here are some ways an entrepreneurship degree can help you and your business.
Having an entrepreneurship degree may or may not impress your business’ average customer who meets you in real life or visits your website. But an entrepreneurship degree can help convince would-be investors to fund one of your business projects or to make a general investment into your business.
2. Learn more about how businesses work.
An entrepreneurship degree is not required to start your own business. But a major in entrepreneurship can help you, both before and after you start your own business.
Studying entrepreneurship can help future business owners learn the basics of starting a business (such as developing business ideas, choosing what type of business to start, etc.).
Also, students who are already entrepreneurs can continue to build their own businesses by learning about marketing, service/product development, and other parts of running a successful business.
3. Network with other entrepreneurs.
You may be the only person who owns your business. But every entrepreneur needs help from others to be successful.
A major in entrepreneurship puts you in a classroom (virtual or in real life) with other aspiring entrepreneurs and current business owners. Connecting with other entrepreneurs can lead to longtime friends and perhaps future business partnerships.
Disadvantages of a Major in Entrepreneurship
Here are some downsides of studying entrepreneurship as a major.
1. The cost of money
Total tuition for an entrepreneurship degree costs thousands of dollars each year. There are scholarships and other available resources to help with these costs.
2. The cost of time
Studying entrepreneurship can take a lot of time, especially if you decide to be a full-time student. The average full-time course load is about 12-18 hours per week.
Key Takeaways on Choosing a Major in Entrepreneurship
An entrepreneurship degree is designed to help college students start their own business or improve a business that’s already up and running. A major in entrepreneurship can:
- help people trust you, especially potential investors and others who might help fund your business
- give you a better and deeper understanding of how businesses work
- give you a powerful network of fellow students, professors and other business leaders who can help you grow your business
On the other hand, earning an entrepreneurship degree does take a lot of time and money.
Use these tips to decide if the perks of an entrepreneurship degree are worth the costs.