Students who major in entrepreneurial studies learn to recognize potential opportunities and gain the skills, acumen, and determination to lead new endeavors. From business and nonprofit management to healthcare, tech, and finance, every field demands entrepreneurial thinking. Entrepreneurship plays a vital role in the U.S. economy's overall growth. According to the Bureau of Labor Statistics, business establishments less than a year old created 3 million jobs in 2015.
For many future business owners and visionaries, earning an entrepreneurship bachelor's degree online is the first step toward obtaining a fulfilling career. An undergraduate curriculum instills the business know-how and applied skills candidates need to develop and execute their great ideas. In the following sections, we examine what you need to know about this exciting business major, from career paths and graduate salary potential to scholarships for students pursuing an online entrepreneurship degree.
Individuals who earn an online entrepreneurship degree go on to pursue numerous careers in a variety of industries. Entrepreneurial skills may provide a ticket to success in myriad conditions and environments, and many entrepreneurs thrive during economically challenging periods. Innovative thinkers are in constant demand as companies strive to gain an edge on the competition. According to the BLS, the U.S. was home to 679,072 businesses under one year old in 2015 — a 3.8% increase from the previous year. While no degree can guarantee a career or salary, below are five careers many graduates choose to pursue.
Meeting, convention, and event planners are also known variously as convention service managers (CSM), conference planners, or special events coordinators. They use their entrepreneurial skills to plan, coordinate, and execute events that can accommodate large numbers of individuals. Like business owners, event planners must oversee operations from start to finish, handling everything from budgeting and contracts to registration.
Management analysts conduct organizational studies, evaluate operations, and make recommendations to help organizations increase their efficiency. After documenting their findings, they present strategies for implementing new systems and improving existing ones. Other duties include interviewing personnel and collecting and analyzing data.
Compliance managers ensure that organizations uphold ethical or regulatory standards while pursuing new projects, sites, or daily operations. They file compliance reports, ensure that organizations are licensed to operate, and carry out follow-up examinations. Compliance managers must also report any discrepancies or shortcomings and present the necessary steps to get an organization back in good standing.
Operations managers work to ensure that an organization's operations and distribution channels run smoothly and efficiently. Their daily tasks involve seeing to the needs of each department and level, from personnel to machinery. Working with logistics experts, operations managers ensure that goods and services get to where they need to go. They collaborate with other departments, like sales and production, to coordinate activities and address issues.
Business professors present lectures, instruct students, and perform original research. Many are seasoned business owners and managers as well as academics. While some community colleges may hire instructors with a master's degree, most individuals who teach at four-year colleges and universities hold at least a Ph.D. Earning an entrepreneurship bachelor's degree online is the first step toward a career in academia.
Sources: BLS 2018
Salary potential and job outlook depend largely on geographic location, local demand, and regional cost of living. For example, event planners enjoy greater opportunities in states known for big events, like California, New York, Texas, and Illinois. Meanwhile, Washington D.C. and Hawaii claim the two top spots for highest concentration. Washington, D.C. also tops the list of highest-paying states, followed by NY, New Jersey, Alaska, and Connecticut.
An online entrepreneurship degree includes core business courses that introduce fundamental concepts, from business plan development to financial management for small enterprises. However, an entrepreneurship curriculum also incorporates liberal arts coursework, which encourages students to see the big picture and draw ideas and strategies from multiple disciplines. While curricula and course offerings vary from school to school, below are a few common classes you might find in a bachelor's in entrepreneurship program.
In this course, students explore the entrepreneurial process step by step, learning how to take a new idea and turn it into a concrete venture. Lecture topics include idea evaluation, entrepreneurial finance, business dynamics, and crisis management for business owners.
Coursework examines the special financial considerations involved with developing new business ventures. Students learn about raising capital, business valuation, and financial structure as it pertains to investors, employees, and other entities involved in startup development.
Candidates survey family businesses' significant role in the U.S. economy, as well as family-run ventures' unique dynamics and structure. Learners examine the complex issues involved in management, shares, and profit from a family-based perspective.
Similar to entrepreneurial finance classes, this advanced course focuses on managing a startup's finances, including capital and payroll. Future entrepreneurs learn to apply time-tested financial theories during the decision-making process.
In this project-based course, students must oversee an idea from conception to design and the final production stage. Usually focusing on either the front-end process or the design and development phase, this class also teaches candidates to collaborate with team members and engineers.
There are several factors to consider before selecting an online entrepreneurship degree, including a school's reputation, accreditation status, and student outcomes. Do graduates who earn online entrepreneurship degrees go on to start their own businesses or create new products? Other important factors include tuition costs, course offerings, student-to-faculty ratios, and internship opportunities. In the following section, we address five common questions individuals ask about earning an online bachelor's degree in entrepreneurship.
An online entrepreneurship degree combines a liberal arts foundation with core business courses. Most programs address numerous topics related to enterprise operations, and business courses in a bachelor's in entrepreneurship typically include accounting, marketing, and economics, along with classes in public speaking, composition, and analytics. While every program is slightly different, many schools allow candidates to modify general education course requirements to better suit their academic and career goals.
As you research schools, you should closely examine the faculty at each institution; particularly those who teach online bachelor's degree in entrepreneurship courses. Look for a healthy balance of part- and full-time faculty members who hold real-world business experience. Such instructors contribute valuable personal experience to support classroom lectures and activities.
An online entrepreneurship degree teaches candidates to launch a business, moving ideas from the concept state to beyond. Because an entrepreneurship bachelor's degree online program typically features numerous individual and group project-based assignments, some students even launch businesses while they are still in school. To learn more about a bachelor's in entrepreneurship program's success rates, take a look at its alumni. Do many graduates go on to create startups and lead new companies?
Practical experience plays a significant part in most bachelor's in entrepreneurship programs, and students usually complete an internship during their third or fourth year of study. Most schools allow distance learners to fulfill this requirement at a nearby company or organization. While some institutions choose the internship location, others allow candidates to select their own company, with school approval.
Newer programs often reflect recent business trends, and may prove more useful competing in the current economy. While many established programs hold solid reputations. It is important to ensure that an older curriculum has adapted to industry developments.
For many individuals, paying for a bachelor's degree in entrepreneurship is the most challenging aspect of attending college. Earning a degree can help you reach your career goals, but it often comes with a hefty price tag. Fortunately, there are numerous ways to offset college costs, from loans and work-study programs to grants and scholarships. Unlike student loans, grants and scholarships like the following awards do not need to be paid back after graduation.
Each year, Franchise Opportunities presents one $2,000 award to a student who effectively explains their plan for a new venture. Submissions must describe the type of venture and how the student plans to launch their idea. Applicants must be college students aged 17 to 24.
This $1,000 award is open to full-time students majoring in business, marketing, or design who maintain a GPA of 2.5 or higher. Applicants must submit a 500- to 750-word essay on the year's designated topic, along with a brief business plan.
Sponsored by iSeeCars.com, this $1,000 scholarship is open to undergraduate and graduate students. Applicants should submit a short essay that explains their future business plans or what resources they need to realize their startup ambitions. Applicants must submit their college transcripts, although there is no minimum GPA requirement.
Each year, SE Ranking presents one $1,000 award to a student who composes the best essay on a digital marketing-related topic. Submissions must include links to supporting sources, as well as one link to seranking.com. Applicants must submit and promote their essays through social media.
Twice a year, Fundera awards one $2,000 scholarship to a student who provides the best video submission describing their startup plans. Each submission must explain the student's venture idea and how they envision bringing the startup to life in only three minutes. Videos are judged on three criteria: quality, originality, and creativity. Qualifying students must like Fundera on social media.