Small business management studies help students build their decision-making abilities and become skilled at verbal and written communication. Some of these programs are 2-year degree-completion programs (open to students with an associate's degree), and full-time bachelor's degrees. Small business management degrees are available through Bachelor of Science in Business Administration (BSBA) or Bachelor of Business Administration (BBA) programs.
Once enrolled, students learn to develop a small business from the ground up by creating an overall strategy, implementing a start-up plan and running a company in a way that is consistent, and predictably profitable. They also practice analyzing a business's cost vs. revenue data in order to understand how such results relate to pricing, marketing strategies, and labor costs. A high school diploma or GED is a prerequisite. Other requirements include a GPA of 2.25 or higher, foundational coursework in algebra, economics, and accounting (for some programs), and a business practicum.
Business Administration Degrees with a Small Business Management Focus
Some colleges require students to complete foundational coursework in algebra, economics, and accounting before being considered for admittance to a bachelor's degree program in small business management.
Much of the training for small business management majors includes general business strategies and principles. A business practicum is usually required. In addition to covering ethics for business professionals, other topics of study include:
- Staff administration
- Finance for managers
- Small business laws
- Sales techniques
- Marketing strategies
- Business policy development
Popular Career Options
Small businesses range from niche retail shops to service-oriented companies. Examples of small business fields include pet grooming, personal training, and computer servicing. Specific job titles might include:
- Small business owner
- Business development manager
- Professional consultant
Employment Outlook and Salary Information
The U.S. Bureau of Labor Statistics (BLS) reported that administrative services management positions (which included small business management) were predicted to grow 8% between 2014 to 2024, which was about average. Administrative services managers took in an average yearly income of $94,840 in May 2015, according to the BLS (www.bls.gov).
Continuing Education Information
Graduates of a bachelor's degree program for small business management may go on to pursue a related master's degree, such as a Master of Business Administration (MBA). Additionally, organizations such as the U.S. Small Business Administration (www.sba.gov) offer online continuing education courses via video and audio downloads.
In a bachelor's degree specializing in small business management, students learn to develop and create an overall business plan and strategy by analyzing and understanding the relationship of business factors such as pricing, marketing strategies, labor cost, and revenue. Graduates may opt to have a career as an entrepreneur, administrative service manager, business development manager, professional consultant, or may continue to pursue a master's degree.