Do you need education to put up a successful home biz?

Filed in archive General on November 27, 2006

If you're interested in setting up a home business but aren't sure about your natural entrepreneurial skills, you might want to learn these skills on campus. One university in the United States has decided that not all entrepreneurs are born; many are made. Grand Canyon University in Phoenix, Arizona, has set up a college offering not just individual courses but a full-fledged degree in entrepreneurship.

Brent Richardson, CEO of the university, concedes that entrepreneurship can't really be taught in a classroom. But Grand Canyon University is making sure that students in its entrepreneurship program will be participating in more than an academic exercise. Actual business owners will teach the classes. Students have the chance to gain access to a $4.5 million capital fund by submitting ideas for an entrepreneurial project.

On the other side of the world, two Further Education Training (FET) colleges in South Africa will also begin offering an entrepreneurship course to business owners who feel a need to improve their skills. The Coastal KZN FET College and the Umgungundlovu FET College will each accept 200 students early next year. The students will receive training in running a business as well as guidance in applying their training to actual business situations. The course lasts a period of 6 months if taken on a full-time basis and 12 to 18 months if taken part-time.

The course is modeled on a highly successful Belgian entrepreneurship training program which helped raise the rate of profitable start-up businesses in Belgium from 32% to 75% over a period of six years. Wilson Nzimande, rector of Coastal KZN FET College, attributes the increasing success of new businesses in Belgium to legislation enacted by the Belgian government requiring all new entrepreneurs to undergo training before starting a business.

Wherever you are in the world, there's likely to be a college or training institute offering entrepreneurship courses near you. Getting some training before you start a home business can put your business on track for good earnings, whether or not you're a born entrepreneur.

Sources:

CNN Money
BusinessOwner