Small Business Owners Look Beyond College for Training Opportunities

Staff Report

Monday, February 25th, 2019

Business owners are turning to training and education to spur business growth, according to data compiled by SCORE, mentors to America's small businesses. Although degree offerings in entrepreneurship have grown by five times in the past 30 years, 56% of business owners do not have a four-year degree – and are instead taking advantage of other low-cost educational resources.

Small business owners who invest in training are more likely to grow. In fact, business owners in one survey cited training as more critical to their success than adopting new technologies or hiring employees, sharing the following plans for 2018:

36% of business owners plan on improving their skills to boost productivity and efficiency.

32% will invest in new technologies.

28% will hire more employees.

This growing interest in business training is reflected in higher education trends. Over the past 30 years:

The number of freshmen who want to pursue entrepreneurship has doubled.

Degree offerings in entrepreneurship have grown by five times.

Courses in entrepreneurship have grown twentyfold.

Nonetheless, 56% of business owners do not have a four-year college degree:

5% did not complete high school

20% completed high school or a G.E.D.

14% earned an associate's degree

17% completed some college

26% have a four-year degree

18% earned a post-graduate degree

Instead, many entrepreneurs are using online training materials and modules to educate themselves on business topics, including those found on www.score.org.

The three most popular training topics on www.score.org are:

Starting your business

Developing a business plan

Marketing and sales