Small Business Manager: Job Duties & Requirements
Learn about the day-to-day responsibilities of small business managers, which are typically influenced by the size and type of company. Read on for more information about useful degree programs, employment outlook and earnings potential for small business managers.
The U.S. Small Business Administration (SBA) defines a small business as a for-profit, independently owned company with approximately 100 to 1500 employees, depending on the industry or sector (www.sba.gov). In general, small business mangers oversee the daily activities of lower-level employees and make sure that the company is run in a smooth and efficient manner. Their duties usually require a working knowledge of accounting, budgeting, finance and tax policies. Small business managers may also analyze data and determine sales goals, or make marketing, production and purchasing decisions.
How to Become a Small Business Manager
Educational requirements for small business managers or owners are non-specific and can vary. Relevant degree programs may include a Bachelor of Business Administration (BBA) or a Master of Business Administration (MBA). Some community colleges or university extension programs may offer non-degree or certificate programs in small business management. Coursework may include topics in business planning and operations, finance, human resources and marketing.
Small business managers wear many hats, so the ability to learn on the fly, manage money, multitask and solve problems is essential. Interpersonal communication skills are key, especially when dealing with employees, suppliers, clients or customers.
Employment and Salary Outlook
According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary of general and operations managers, including small business managers, was $95,440 in May 2012. In addition to individual companies, opportunities for employment may be found at scientific and technical consulting firms, computer systems services and restaurants. In May 2012, California, Texas and New York had the highest levels of employment for general and operations managers. Highest-paying states during this same month for managers included New Jersey, Rhode Island and Connecticut (www.bls.gov).
Alternate Career Options
Industrial Production Managers
Industrial production managers oversee the manufacturing of a variety of consumer products, including automobiles, computers or paper goods. An undergraduate or graduate degree in business administration, engineering or industrial management, along with up to five years of relevant experience, is usually required to obtain a position. In May 2012, industrial managers earned a median annual wage of $89,190, with minimal to no change in employment nationwide expected through 2022, as reported by the BLS (www.bls.gov).
Property, Real Estate and Community Association Managers
Property, real estate and community association managers oversee the financial, leasing and maintenance aspects of commercial, industrial or residential buildings and properties. While it is possible to obtain a position with a high school diploma, college graduates or licensed real estate professionals may be preferred. In May 2012, the median yearly salary for association, property and real estate managers was $52,610, according to the BLS. Nationwide, the BLS has also projected a 12%, or average, growth in employment for property and real estate managers through 2022 (www.bls.gov).
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