Studies & Degrees in Small Business and Entrepreneurship
Small business and entrepreneurship programmes teach how to start, run and grow a company of limited size. The European Commission's EntreComp framework uses this definition of entrepreneurship: acting upon opportunities and ideas and transforming them into value for others, where the value can be financial, cultural or social. The subject therefore covers new start-ups, family firms, self-employment and social enterprises.
Small firms are the normal case in business. According to the European Commission, small and medium-sized enterprises (SMEs) represent 99% of all businesses in the European Union. Its definition is based on size: a micro enterprise has fewer than 10 staff, a small one fewer than 50 and a medium-sized one fewer than 250, with turnover ceilings of €2 million, €10 million and €50 million.
Students learn the whole of a business and not one department: market research, the business plan, start-up costs and funding, legal structure and registration, accounting and taxes, hiring, marketing and sales. Specialised courses go further. At Saint Mary's University in Halifax, the entrepreneurship major includes courses on sustainable entrepreneurship, building and launching a product with the lean start-up method, family business (succession, management and selling the firm) and venture capital.
Qualifications and levels
- Vocational training. In Spain, business creation is part of several vocational (FP) qualifications. The Técnico Superior en Administración y Finanzas, a higher vocational programme of 2,000 hours, includes the module Simulación empresarial (business simulation). In the United States, two-year colleges offer associate degrees in business.
- Bachelor's degrees. Entrepreneurship is usually a major or specialisation inside a business degree. Saint Mary's University offers it as a major in both its Commerce and Arts programmes, with an optional co-op (paid work) term. The Swiss School of Management, which has a campus in Rome, offers a full-time Bachelor of Business Administration of 180 ECTS credits over three academic years. Official Spanish bachelor's degrees (grados) have 240 ECTS credits.
- Master's degrees. Official Spanish master's degrees have 60, 90 or 120 ECTS credits. Saint Mary's University has a Master of Technology Entrepreneurship and Innovation and an MBA focused on entrepreneurship, social enterprise and sustainability. The Swiss School of Management lists a one-year MBA of 60 ECTS credits.
- Short and executive programmes. Business schools offer programmes for owners and managers without a business background. EIG Education in Granada, for example, offers the Programa Superior en Dirección de Empresas: it requires no specific prior training and covers the main areas of a company in one academic year.
Private business schools often award their own qualifications alongside official degrees. Ask the school what recognition the qualification has before you enrol.
Where to study
SpainExchange lists nine active schools for this subject. Four are in the United States: Ferris State University in Michigan, the University of Southern Maine, DeVry University and Belmont Technical College in Ohio. Three are in Spain: EAE Business School and UIBS / Barcelona Business School in Barcelona, and Escuela Internacional de Gerencia (EIG) in Granada. Canada has Saint Mary's University in Halifax, and Italy the Rome campus of the Swiss School of Management.
Programmes in the United States and Canada are taught in English. In Spain, EAE Business School teaches programmes in Spanish and in English, and EIG presents its programmes in Spanish; check the language of each programme with the school. Company law, taxes and start-up procedures differ by country, so choose the country where you expect to open or manage a business if that part of the course matters to you.
Careers
Graduates start their own company, take over or join a family business, manage a small firm or work with start-ups in banks, investment funds and support agencies. Saint Mary's University lists these career opportunities for its major: entrepreneur, founder of a tech start-up, not-for-profit leader, venture capital adviser, firm manager and industry lobbyist.
Running a small firm is broad work. The US Bureau of Labor Statistics (BLS) notes that in small organisations an owner or manager is often responsible for hiring, training, quality control and day-to-day supervision. The BLS also describes small businesses as the typical entry point for entrepreneurs, and it reports that some new establishments inevitably fail. Survival rates vary by industry: health care and social assistance ranks among the highest and construction among the lowest.
Public support exists in many countries. In the United States, the Small Business Administration (SBA) and its partners offer free or low-cost counselling, a step-by-step business guide and loan programmes such as the 7(a) loan, its main programme for long-term financing.
Frequently asked questions
Do I need a degree to start a business?
No. A degree is not a legal requirement to open a company. A programme gives structured training in planning, finance, law and marketing, and access to mentors and competitions.
What counts as a small business?
In the European Union a small enterprise has fewer than 50 staff and a turnover of up to €10 million; a micro enterprise has fewer than 10 staff and a medium-sized one fewer than 250. Other countries use their own size standards.
How long does a degree in entrepreneurship take?
It depends on the country. Official Spanish bachelor's degrees have 240 ECTS credits, the Bachelor of Business Administration of the Swiss School of Management has 180 ECTS credits over three years, and a one-year master's degree usually has 60 ECTS credits.
Can I study entrepreneurship without a business background?
Yes. Saint Mary's University offers its entrepreneurship major to Arts students as well as Commerce students, and EIG's Programa Superior en Dirección de Empresas requires no specific prior training.