Becoming an entrepreneur is an exciting and challenging journey that requires a combination of knowledge, skills, and experience. While some of the most successful entrepreneurs in history never earned a formal university degree, others attribute their success to the education they received.
Business skills are essential for professional success in today’s job market (Jardim, 2021). In this regard, some of the most common questions aspiring entrepreneurs ask are: “What education is needed to become an entrepreneur?” or “What degree is required to be an entrepreneur?” The truth is that there is no one-size-fits-all answer. However, understanding the type of education necessary to become an entrepreneur can help you make informed decisions about your personal and professional path.
This article will explore these questions in depth, helping you understand the education required to become a business owner and whether a degree is truly necessary.
What Education Do You Need to Be an Entrepreneur?
It is important to highlight that entrepreneurship education does not function as a direct stimulant of entrepreneurial intention (Silesky-Gonzalez et al., 2025). Meanwhile, Komarnicka (2025) points out that an entrepreneur’s success in the market is determined by a synergistic combination of innate business aptitudes, sociological conditions, and educational programs (both formal and informal).
In this context, the education required to become an entrepreneur varies depending on the industry, business type, and individual goals. While some entrepreneurs thrive without formal education, others benefit from structured learning to develop foundational knowledge.
However, it is important to highlight that Debarliev et al., (2020) report that non-formal business education has a stronger effect on human capital assets. Furthermore, an entrepreneurial mindset and constructive skills have a greater impact on personal attitudes and perceived behavioral control. Similarly, Motta y Galina (2023) reported that experiential learning (e.g., business plan development, consulting services, business implementation, etc.) provides students with the opportunity to experience entrepreneurship, resulting in the development of entrepreneurial knowledge and understanding while “demystifying” the business creation process.
Here is a breakdown of the main educational paths and skills that can help you succeed:
Formal Education: Degrees and Certifications
Many entrepreneurs pursue formal education to acquire essential business knowledge. Formal education offers several advantages, such as:
- Business fundamentals: Courses in finance, marketing, and management provide a solid foundation.
- Networking opportunities: Universities offer access to mentors, professors, and future business partners.
- Access to resources: Schools provide incubators, funding opportunities, and guidance for startups.
Some of the most common degrees in formal education include:
- Business Administration: A degree in business administration is one of the most popular options for aspiring entrepreneurs. It covers topics like finance, marketing, management, and operations, providing a solid foundation for running a business.
- Entrepreneurship: Some universities offer specialized entrepreneurship programs focused on startups, innovation, and business planning. These programs often include practical projects and mentorship opportunities. Allen et al., (2021) concluded that both General Mental Ability (GMA) and Emotional Intelligence (EI) are important for business success, but the relationship is more than twice as strong for EI compared to GMA.
- Finance or Accounting: Understanding financial management is crucial for entrepreneurs. Degrees in finance or accounting can help you manage budgets, analyze investments, and ensure profitability.
- Marketing: A degree in marketing can teach you how to promote your business, understand customer behavior, and build a strong brand.
- Computer Science or IT: For tech entrepreneurs, a degree in computer science or information technology can provide the technical skills necessary to develop software, apps, or other digital products.
However, it is important to emphasize that entrepreneurship also involves creativity, risk-taking, and adaptability—qualities that are not necessarily taught in a classroom.
Non-Formal Education (Without a Degree): Boot Camps, Workshops, and Online Courses
Not everyone needs a traditional degree to succeed as an entrepreneur. Many successful business owners have gained skills through alternative educational paths, such as:
- Entrepreneurship Boot Camps: Intensive programs that teach business planning, fundraising, and marketing in a short period.
- Online Courses: Platforms like Coursera, Udemy, and LinkedIn Learning offer courses on entrepreneurship, business strategy, and specialized skills.
- Workshops and Seminars: Local business organizations often host events where you can learn from experienced entrepreneurs.
Self-Education: Books, Podcasts, and Mentorship
Self-education is a powerful tool for entrepreneurs. Reading books like The Lean Startup by Eric Ries or listening to podcasts like How I Built This can provide valuable insights. Additionally, finding a mentor who has successfully built a business can offer guidance and support.
Is Education Necessary to Become an Entrepreneur?
Many aspiring business owners ask: Can I be an entrepreneur without a degree? The short answer is yes, but having an education can make your journey easier.
Manafe et al., (2023) found a positive relationship between an entrepreneurial mindset and business success. The entrepreneurial mindset consists of five dimensions: opportunity orientation, innovation, proactivity, self-confidence, and risk tolerance.
In this sense, the entrepreneurial mindset should be understood as a:
“Cognitive perspective that enables an individual to create value by recognizing and acting on opportunities, making decisions with limited information, and remaining adaptable and resilient in often uncertain and complex conditions.” (Daspit et al., 2021).
Entrepreneurs Who Succeeded Without Formal Education
There are many examples of entrepreneurs who built multi-million-dollar companies without a degree:
- Steve Jobs (Apple) – Dropped out of college and focused on hands-on learning.
- Mark Zuckerberg (Facebook) – Left Harvard to expand his social media empire.
- Elon Musk (Tesla, SpaceX) – While he studied, much of his success came from self-learning.
- Richard Branson (Virgin Group) – Never attended college but became one of the world’s leading entrepreneurs.
These examples show that formal education is not mandatory, but it can accelerate your path to success.
While a degree is not required, the education needed to become a business owner often includes self-directed learning, hands-on experience, and networking. Below are some strategies to map your path to business success:
Gain Hands-On Experience
Working in the industry you are interested in can provide practical experience and insights into how businesses operate. Branca et al., (2025) highlight that experiential learning is an important aspect of entrepreneurial training.
Build a Strong Network
Networking with other entrepreneurs, industry professionals, and potential investors can open doors and provide valuable support.
Leverage Online Resources
Take advantage of free or low-cost online resources to learn about business, marketing, and finance.
Start Small
Begin with a small business or side project to test your ideas and gain experience before scaling up.
What to Study to Become an Entrepreneur?
If you’re asking yourself, “What should I study to become an entrepreneur?”, the answer depends on your personal and business interests and goals. Entrepreneurship can be taught (McKenzie et al., 2021); however, having the right entrepreneurial mindset is key.
On the other hand, Botella-Carrubi et al., (2023) demonstrated that startups see an increase in sales when opportunity development skills in products, services, or markets, creativity, problem-solving, technology adoption, and confidence in cloud storage are present.
Here are some key areas you should focus on:
Business Fundamentals
Understanding basic business concepts is essential. This includes:
- Business Planning: Learn how to create a business plan, set goals, and develop strategies.
- Financial Management: Study budgeting, cash flow management, and financial forecasting.
- Marketing and Sales: Explore branding strategies, digital marketing, and customer acquisition.
Leadership and Management
Entrepreneurs need strong leadership skills to build and manage teams. Courses in leadership, communication, and conflict resolution can be invaluable.
Industry-Specific Knowledge
If you are entering a specialized field like healthcare, technology, or fashion, acquiring industry-specific knowledge is crucial. This may involve obtaining certifications or taking specialized courses.
Innovation and Problem-Solving
Entrepreneurship often involves solving problems and innovating. Studying design thinking, creativity, and innovation can help you develop these skills.
What Skills Should an Entrepreneur Have?
Entrepreneurs need a mix of hard and soft skills to succeed. Whether you earn a degree or not, mastering these areas is crucial:
Essential Business Skills
✅ Financial Management: Understanding cash flow, profits, and expenses.
✅ Marketing & Branding: Learning how to attract customers.
✅ Sales & Negotiation: Mastering persuasion and deal-making.
✅ Business Law & Ethics: Knowing the legal aspects of running a business.
Soft Skills vs. Technical Skills
✅ Leadership & Teamwork: Managing employees and partners.
✅ Problem-Solving: Overcoming challenges creatively.
✅ Networking: Building valuable connections.
✅ Adaptability: Staying competitive in changing markets.
Many of these skills can be learned through self-study or developed through experience.
Practical Alternatives to Formal Education
If college is not an option for you, there are many ways to gain business knowledge:
Online Courses & Certifications
Platforms like Udemy, Coursera, and Harvard Online offer courses on:
- Business fundamentals
- Digital marketing
- Financial management
Workshops, Bootcamps & Seminars
- Startup accelerators like Y Combinator provide hands-on experience.
- Entrepreneurial mentorship programs offer real-world guidance.
Learning Through Experience
- Start a small business before launching a bigger one.
- Intern or work at a startup to gain industry experience.
- Learn through trial and error—many entrepreneurs fail before succeeding.
These paths can be as effective as a university degree, if not more.
Education vs. Experience: What Matters More?
Is education required to be an entrepreneur? Or is real-world experience more valuable?
The Importance of Real-World Knowledge
- Many skills are best learned by doing rather than studying.
- Hands-on experience provides practical insights that schools don’t teach.
- Some of the most important business lessons come from failures, not textbooks.
The Balance Between Learning and Doing
- Education helps you avoid mistakes.
- Experience teaches you what no book can.
- The best entrepreneurs combine both approaches.
The Ideal Path?
Learn what you need and then apply it in real life.
Conclusion: Finding the Right Balance
So, what education is needed to own a business? The truth is, there’s no single answer.
- Can you be an entrepreneur without a degree? YES.
- Is education useful for entrepreneurs? DEFINITELY.
- What’s the best approach? A combination of learning and real-world experience.
If you choose college, business-related degrees can be valuable. If you prefer a non-traditional path, online courses, mentorship, and hands-on experience can be just as effective.
Entrepreneurship is about taking action, so whatever path you choose, the key is to never stop learning.
References
Allen, J. S., Stevenson, R. M., & Seibert, S. (2021). What matters more for entrepreneurship success? A meta-analysis comparing general mental ability and emotional intelligence in entrepreneurial settings. Strategic Entrepreneurship Journal, 15(3), 352-376. https://doi.org/10.1002/sej.1377
Botella-Carrubi, D., Ulrich-Berenguer, K., & Ribeiro Soriano, D. E. (2023). What entrepreneurial skills are the key to startup finance performance? Venture Capital, 27(1), 21–41. https://doi.org/10.1080/13691066.2023.2240019
Branca, E., Intenza, M. & Doni, F. Startup entrepreneurs’ personality traits and resilience: unveiling the interplay of prior experience. Int Entrep Manag J 21, 2 (2025). https://doi.org/10.1007/s11365-024-01023-y
Daspit, J. J., Fox, C. J., & Findley, S. K. (2021). Entrepreneurial mindset: An integrated definition, a review of current insights, and directions for future research. Journal of Small Business Management, 61(1), 12–44. https://doi.org/10.1080/00472778.2021.1907583
Debarliev, S., Janeska-Iliev, A., Stripeikis, O., & Zupan, B. (2020). What can education bring to entrepreneurship? Formal versus non-formal education. Journal of Small Business Management, 60(1), 219–252. https://doi.org/10.1080/00472778.2019.1700691
Komarnicka, A. (2025). Entrepreneurial Competencies and the Factors Determining the Success of an Entrepreneur in the Market. Education Excellence and Innovation Management: A.
Jardim, J. (2021). Entrepreneurial Skills to Be Successful in the Global and Digital World: Proposal for a Frame of Reference for Entrepreneurial Education. Education Sciences, 11(7), 356. https://doi.org/10.3390/educsci11070356
Manafe, M., Ohara, M., Gadzali, S., Harahap, M., & Ausat, A. (2023). Exploring the Relationship Between Entrepreneurial Mindsets and Business Success: Implications for Entrepreneurship Education. Journal on Education, 5(4), 12540- 12547. https://doi.org/10.31004/joe.v5i4.2238
McKenzie, D., Woodruff, C., Bjorvatn, K., Bruhn, M., Cai, J., Gonzalez-Uribe, J., … & Valdivia, M. (2021). Training entrepreneurs. VoxDevLit, 1(2), 3.
Motta, V. F., & Galina, S. V. R. (2023). Experiential learning in entrepreneurship education: A systematic literature review. Teaching and Teacher Education, 121, 103919.
Silesky-Gonzalez, E., Lezcano-Calderon, Y. & Mora-Cruz, A. Effects of education for entrepreneurship and entrepreneurial intention in university students. Int Entrep Manag J 21, 26 (2025). https://doi.org/10.1007/s11365-024-01039-4
