Anyone interested in joining those who have followed their dream of entrepreneurship may wonder what it takes to prepare. If they’re making college plans, one question might be: “What should I major in if I want to start my own business?” 

A degree in business is a good choice. An undergraduate option is a bachelor’s degree in business administration. For would-be entrepreneurs considering a graduate degree, options include master’s degrees in business administration or management. 

What Is Entrepreneurship? 

Entrepreneurship involves starting and managing a business to create value, such as generating profits. The concept of entrepreneurship is rooted in the innovation of business ideas and the adventurous nature associated with working for oneself.  

Why Start Your Own Business? 

The reasons for starting a business are many. A 2024 HubSpot survey showed that most entrepreneurs started their own business for various reasons, including the opportunity to work for themselves, follow their passion, and increase their income.  

Starting a business can provide individuals with benefits such as the following: 

• Professional autonomy: Serving as their own bosses 

• Innovative ideas: Acting on their own passions 

• Earning potential: Working toward an income level without the traditional limitations  

• Job growth: Creating an opportunity to hire others and contribute to job creation 

What to Major in If You Want to Start Your Own Business 

Starting a business doesn’t require specific education, but earning a college degree can help aspiring entrepreneurs develop valuable skills and knowledge. Holding a degree also lends credibility and confidence to those building a business.  

Once they make the decision to pursue a degree, those who want to be entrepreneurs must decide: “What should I major in to prepare for starting my own business?” Whether taken on campus or online, a business-focused degree program can help students prepare for entrepreneurship. 

Here are some common areas of study for those who want to start their own business. 

Business Administration Major 

A business administration degree can help students gain expertise and skills in business strategy, data analysis and leadership. Students may choose this major for undergraduate studies, or they may pursue a graduate degree to build on a bachelor’s degree in a business subject or other academic discipline. 

Bachelor’s Degree in Business Administration 

Entrepreneurs must be familiar with a wide range of topics associated with leading a business. The typical bachelor’s in business administration program can help those who plan to start a business learn about those various subjects. The degree’s focus areas include the following: 

• Accounting: To track various financial metrics 

• Management: To lead programs and people 

• Economics: To ensure efficiency and competitiveness 

• Marketing: To promote the value of the business and attract customers  

These programs often include internship opportunities that provide real-world business experience. 

Master’s Degree in Business Administration 

A Master of Business Administration (MBA) degree can be a great fit for those who hold an undergraduate degree but want to strengthen their business administration knowledge for entrepreneurial pursuits.  

MBA degree programs typically allow students to focus on an area of business administration, such as accounting, international business, or healthcare administration. Selecting this area of emphasis helps aspiring entrepreneurs tailor their education to their own goals and plans.  

Management Major 

A management degree can also help set the stage for successful entrepreneurship. As with business administration, management offers opportunities at the bachelor’s and master’s degree levels.  

For those who hold a bachelor’s degree but want to build their expertise in managing organizations, a master’s degree in management offers valuable education and training. These degrees typically emphasize many subjects that are important when starting a business, such as the following: 

• Organizational behavior: To understand how groups of employees interact 

• Human resource management: To lead employees and advance business goals 

• Entrepreneurship: To plan and start a new business 

• Problem-solving: To tackle issues that arise as part of business leadership 

Additionally, students in these programs may often choose to focus on entrepreneurship as part of their degree work. The typical master’s degree in management also features internships, which provide opportunities to gain experience at existing businesses.  

3 Tips for Starting Your Own Business 

Learning what to major in to start your own business isn’t the only step toward pursuing entrepreneurship. Aspiring business owners should explore some key entrepreneurship tips. 

1. Find Your Passion 

Whether it’s a personal interest or an industry in which they have previous work experience, entrepreneurs should select a type of business that aligns with their passion and knowledge. Identifying an opportunity to address an unmet consumer need can also help aspiring entrepreneurs select a product or service for their business to offer. 

2. Commit to Action 

Persevering on the path to starting a business is critical. Steven Stovall, associate professor of management and entrepreneurship at Southeast Missouri State University, lists this willingness to act as one of the most important factors in successful business ownership. 

“Vision and passion are important, but they don’t mean much without action,” Stovall says. “Entrepreneurs don’t just have ideas. They commit to them, even when the risks are high and the outcome is uncertain.”  

3. Emphasize Real-World Experience 

Gaining knowledge and experience about the ins and outs of starting and leading a business is also critical. Degree work that emphasizes hands-on projects, problem-solving and lessons from business owners can encourage entrepreneurial success. 

Earn a Degree That Sets the Stage for Entrepreneurship 

If you’re ready to pursue a degree that helps prepare you to start your own business, discover SEMO Online’s business degree programs, with entrepreneurship-focused offerings such as the following: 

• Bachelor of Science in Business Administration 

• Master of Business Administration  

• Master of Science in Management 

The programs offer the flexibility of online education while providing a high-quality degree. In some cases, bachelor’s degree programs offer the opportunity for students to begin work toward an MBA while they’re still working toward an undergraduate degree. 

Explore how SEMO Online’s business degree programs can help you start — and succeed at — your own business.