Skip to main content

10 Benefits of Becoming a Small Business Owner

Aug 17, 2016

Starting a small business can offer benefits, flexible work schedules and greater wealth. Owning and operating a business can also give you valuable skills, several of which you may have gained in school if you’re a business administration graduate. Benefits associated with being an entrepreneur may be part of the reason why about 543,000 new businesses are started each month in the United States.2

Business Degrees at Point University

Independence or the chance to be their own boss is a major motivator for some people who want to learn how to start a small business. 1 Imagine having no one tell you that you must go on a three-day business trip the week of a holiday or speak at an out-of-town seminar the week that your son is scheduled to graduate from high school.

Business Administration Graduate - Man Reading a Business Newspaper | Point University

Ten other benefits associated with starting a small business include:

  1. Opportunity to work from home full-time – Forbes reports that more than half of the small businesses in America are home based. 2
  2. Job security – You won’t get laid off if you own your own company. 3
  3. Sharpened abilities – Whether you own a bakery, pottery store, clothing company or marketing agency, the more you use your abilities, the sharper they may become, possibly making you an expert over time. 3
  4. Tax deductions – Owning a business could make you eligible for business mileage, office supplies and other tax deductions.
  5. Job growth – If your business generates enough revenues, you could hire other people.
  6. Pride – Developing your own successful products or services could validate your importance to yourself and others. 4
  7. Client interactions – Direct client communication could provide immediate rewards, especially if clients tell you how your products or services have enriched or improved their lives. 4
  8. Work/life balance – You could establish when you work, including the days and hours that you will work. This single benefit could keep you from missing another important family events due to work obligations.
  9. Challenging work – Instead of getting caught in a rut of routine, you may perform new tasks each day as a business owner. To meet client requests, you may have to leave your “comfort zone” and stretch yourself and grow. 4
  10. Posterity – Own a successful business and you could leave your company to your adult children, grandchildren or other relatives.

A business administration degree could be a gateway to business ownership. Launching a business in a growing industry or market could also prove helpful. Included among the best small businesses to start are a women’s health platform, box subscription services and computer applications for children. Business News Daily also shares that software training programs, food trucks and mobile consulting companies are good choices. 5

Business Degrees at Point University

Business Administration Graduate - Two Young Businessmen At Work

Point University offers business degrees, at the undergraduate and graduate level. Undergraduate business degrees to consider include the Associate of Arts in Organizational Leadership, the Associate of Arts in Business Administration, the Bachelor of Science in Organizational Leadership and the Bachelor of Science in Business Administration. If you are seeking a graduate business administration degree, we offer a Master of Business Administration.

Critical thinking, leadership strategies, management, ethics and marketing principles are examples of areas that are covered during the degree programs. Unique benefits associated with the programs include small class sizes, personalized academic support, real time interaction with peers and instructors, and multimedia presentations.

If you have been thinking about earning the education, skills, knowledge and training to own a business, contact us today to learn more about Point’s classroom and online undergraduate and graduate degree programs. We look forward to speaking with you about how our offerings can help you reach your goals of starting a small business.

Resources:

1 http://www.cbsnews.com/news/why-do-people-start-businesses-its-not-what-you-think/
2 http://www.forbes.com/sites/jasonnazar/2013/09/09/16-surprising-statistics-about-small-businesses/#777904283078
3 https://www.entrepreneur.com/article/234916
4 http://www.inc.com/guides/201101/top-10-reasons-to-run-your-own-business.html
5 http://www.businessnewsdaily.com/1999-great-business-ideas-2012.html