Small Business Management Degrees

Overview

For many people, starting a business is a dream and a passion. Many top companies like Apple, Microsoft, Google, and Wal-Mart started small-scale. If you plan to start your own business in any field ranging from restaurants to hardware, you can opt for small business management studies to gain management and entrepreneurial skills. The small business management courses are mostly available as bachelor's degree, and the duration of the degree varies from three to four years. Certain colleges offer online courses too. The course curriculum includes accounting, finance, marketing, human resource management, economics, computer systems, and law. Certain colleges also provide internship programs and direct meetings with small business owners for practical knowledge.

Benefits

Starting one's own business provides both job satisfaction and independence. It requires only a minimal capital investment and workforce. When you hold a small business management degree, you can manage the bank accounts, file taxes, and also perform a variety of directorial activities all by yourself. In addition to managing you own business, you can be a consulting manager for a variety of other companies ranging from professional, retail, food, child care, and home businesses. You can also be a Subject Matter Expert (SME) for companies and provide them with business plans and processes. You can expect an average salary of $30,000 to $45,000 in the first year as a company manager and with a few years of experience you can advance up to $95,000.

Costs

The cost of a small business management program can range from $18,000 to $35,000 per annum, which includes only the tuition fee. You may incur additional expenses on course materials, lodging, food, transportation, etc. Certain schools provide concession in the cost of the tuition fees up to $5,000 for their in house students.

Schools

There are many schools and colleges in the United States of America which offer small business management programs. Ferris State University and Rasmussen College are some of the colleges which provide bachelor's degree programs in small business management both on campus as well as online.

Testing & Preparation

To pursue the small business management degree, you should have completed high school certificate program or the General Educational Development (GED). Many colleges expect a minimum score of 2.5 in the core subject on a ranking scale of 5. Apart from this, you may have to take up tests like the American College Test (ACT) and earn a score of 19 or higher. If you are an international student, you are required to take up the Test of English as a Foreign Language (TOEFL) and/or International English Language Testing System (IELTS). A Completed Certificate of Center for English as a Second Language (CESL) is also accepted by certain colleges.

Financial Aid

You can avail of financial aid either as a scholarship from the college or from the state programs, as loans from a private or a government bank, or as a grant. The Federal Pell Grant is a government-aided scholarship awarded to deserving students from all over America. Apart from that each state has merit scholarship plans for its students. Students get a concession in fees in the colleges and universities in their own state. Many colleges offer a concession to the United States Military Service member's dependents based on certain stipulated criteria. Certain colleges arrange for part-time employment for their students which would help them pay their fees and other expenses. You can also approach private banks such as Citibank and Fifth Third Bank to obtain loans.