Small Business Management Degree

Small businesses are the economic backbone of any nation. According to the Small Business Administration, there are over 16 million small businesses in the country, providing employment to countless and contributing to the national economy. Running a small business, however, is no small feat, as meticulous business planning, execution, effective employee handling, among others, is required to make it a success.

Colleges and universities offer both degree and non-degree programs in small business management.  These programs are designed to help students acquire the necessary business and managerial skills, essential to running a small business successfully.

Associate in Science – Entrepreneurship – Small Business Management

This 2-year degree (students generally earn this degree in 2 years with full-time enrollment), is for both prospective business professionals and managers/owners of existing small businesses. The degree’s main objective is to teach working knowledge of small business operations to its students.

Courses taught during the program may include:

• Business Communication
• Business Law: Legal Environment of Business
• Entrepreneurship: Starting and Developing a Business
• Introduction to Business
• Financial Accounting
• Introduction to Web Development
• Computerized Accounting Applications
• Principles of Management
• Marketing
• Principles of Information Systems
• Essential PowerPoint
• Essential Excel

Admissions requirements

To pursue a degree in small business management, students need to hold a high school diploma or equivalent. In addition, they may have to appear for an interview, submit transcripts, along with academic and personal references.

Bachelor of Science in Business Management – Small Business and Entrepreneurship Specialization

The degree typically awarded upon successful completion of 120 credit hours in 4 –years (fulltime enrollment), is designed to draw from management, international management, statistics, economics, finance, operations and marketing principles. Its main objective is to provide its students with a comprehensive business experience. Students are taught to integrate various business units and the effects of decision making in a small business organization.

Business-specific courses covered during the program may be titled as:

• Human Resources Development and Management
• Quantitative Business Analysis
• Analyzing Financial Statements
• Managerial Economics
• The Legal and Ethical Environment of Business
• Introduction to Marketing
• Principles of Managerial Accounting
• Information Systems Design and Management
• Principles of Management
• Applying Leadership Principles
• Capstone – Business Policy Development and Implementation
• Marketing Strategy for Small Business
• Managing a Small Business/Entrepreneurial Organization
• Funding Sources for Small Business/Entrepreneurial Organizations
• Entrepreneurship in the Global Age
• Introduction to Small Business/Entrepreneurship

Admission requirements

• Official high school transcripts
• A minimum GPA of 2.0 or above
• SAT/ACT scores
• Letters of recommendation
• Essay

Financial assistance

Fee structure for the degree will vary between universities but a financial aid package may be awarded to those who qualify. Grants, scholarships and loans, may facilitate a student in completing his/her degree program. Filing the FAFSA is mandatory to be considered for financial aid. Therefore contact your school’s financial aid office for further assistance.

Small Business Management Degree Online

Online programs are also available in small business management. There are several schools that offer these degrees as distance-learning courses and allow candidates to study from any location. The online small business management programs can be useful for those who cannot attend traditional classes owing to personal or professional commitments. The online programs, if accredited, may be equally good in terms of its curriculum. As these programs are self-paced, students can complete them at their own convenience. However, students will have to ensure that they remain consistent, attend online classes, and take tests, whenever required.

Career prospects 

The positions typically found in the field of small business management are:

• Entrepreneurs
• Professional Consultants
• Business Development Managers

The type of job, location, experience, and the area of expertise are some of the factors that may help determine the income of small business managers. Administrative services managers, according to O*NET OnLine, earned a median yearly salary of $82,310 in 2013. The average projected growth is expected to range from 8% to 14% between 2012 and 2022.

General and operations managers, according to O*NET OnLine, earned a median yearly salary of $96,430 in 2013. The average projected growth in the field is expected to range from 8% to 14% between 2012 and 2022.