There is always a controversy whether a college degree matters in running a small business. However, as the rising cost of college degree is constantly rising to overwhelming figures, this big question begs for an answer: Is a college degree still matter?
According to a small business survey conducted by Manta, one of the leading small business communities, it turns out that education don’t really matter much compared to experience.
Although the majority of the survey respondents say they have college degrees (69 percent,) only 40 percent con said that it’s important to obtain a college education in order to be successful in the working world. The figure is a majority, but at 40 percent, it’s not a strong majority (25 percent said that having a college degree doesn’t really give you a competitive advantage.)
To put a cherry on top, the Manta survey reveals that 62 percent of the 1,000 small business owners surveyed didn’t notice a difference in performance among staff with a college degree. Perhaps that’s also the reason why 50 percent of small business owners surveyed have staff without a college degree.
Check out this infographic to give you some insights on college education trends among small business owners:
It seems that the controversy continues… we can learn from the infographic that college education still somewhat matters. However, the rising college costs will – more sooner than later – make college education less relevant to small business success.
My view
I personally think that college education still matters for small business. When I was running a business service store, I notice the difference between those who have a college degree and those who don’t have it.
Staffs with a college degree tend to be more insightful and professional than those who don’t. Although some with no college degree do standout above the rest, the majority is not.
Does a college education matter for me? Well, I champion experience over education, but I must say that education still fundamentally impact you mindset and your ability to take tough decisions.
I hold college degrees. Although I can’t say that my degree is responsible for my small business success, I gained valuable insights beyond the learning materials; I learn to think critically; and although I don’t fancy partying, communities in college can grow you personally and professionally.
Some resources
To gain more insights, here are some articles you should read:
Small business owners: You can’t teach a work ethic (Video)
Does a college education matter? According to a survey, it actually doesn’t, at least in terms of work ethic.
How much does your college degree matter?
With unemployment for young people still at elevated levels, and so many career paths basically obsolete, the “college debate” is in full force.
Does a College Education Matter Anymore?
With unemployment remaining stubbornly high, many wonder if obtaining a college degree is worthwhile at all.
So, what’s your take? Does education matter in your hiring endeavor? Does it matter for your small business success? Please share your thoughts.
Photo credit: CollegeDegrees360
