Who Can Own a Business?
There seems to be a common misconception that you can’t own a business if you don’t have a degree. It might surprise you to find out, though, how many business owners don’t have a fancy degree or extensive experience to back them up.
According to a Survey Monkey survey published in an article on CNBC.com, only 20% of business owners surveyed have a high school degree or G.E.D. Only 17% of business owners surveyed continued on to get some college, and only 26% of business owners surveyed are college graduates.
Perhaps you already know of some wildly successful people who don’t have college degrees. People like Steve Jobs and Bill Gates may be on the list of those you know of. Did you know, though, that they aren’t the only ones? Richard Branson – founder of Virgin Atlantic Airways, Dave Thomas – founder and CEO of Wendy’s, David Green – founder of Hobby Lobby, Rachael Ray – cooking show star, and many other famous business owners have all achieved great success without a supporting degree.
So, now you know that business ownership doesn’t require a degree and success isn’t limited to those who graduated college. But are there other factors that determine who can own a business?
Citizenship status is a factor that will determine whether or not someone can own a business. Those who are U.S citizens or hold green cards as permanent residents of the U.S. or have the proper visas are able to become business owners.
Another factor that might affect someone’s ability to be a business owner is funding. Whether you plan to fund your business yourself or rely on investors, you’ll need capital and funds to get your business going and keep it running.
Resources are another factor that can determine whether or not someone can own a business. If you need suppliers, you have to have the resources to find them. If you need legal assistance getting things going, you’ve got to know who to turn to.
If you’re thinking that it sounds like anyone can be a business owner except for you because you don’t have the resources that you need or enough money to begin a start up, you may be feeling discouraged. But don’t write yourself off just yet.
Franchises are a great opportunity for entrepreneurs to own a business without making a costly investment and taking on as much risk as starting from the ground up. At Five Star Bath Solutions, we make it easy to fulfill your dream of being a business owner in an industry that you’ll love without extensive prerequisites.
Still wondering who can own a business? You can. Contact us now for more information about what sets Five Star Bath Solutions apart and how you can start living your dream of being a business owner today.