MBA’s – a great route to entrepreneurshipPosted on: April 11, 2019
by Ruth Brooks
Over 99% of businesses in the UK are SMEs – small to medium sized enterprises with under 250 employees. Perhaps surprisingly, 96% of those businesses are classed as ‘micro’, which means they employ less than nine people. The small business landscape has changed dramatically over the last few decades, with more and more people ‘going it alone’ and starting their own company. Whether you have already taken the first steps towards building your own business, you’ve got a great business idea or just know that being your own boss is for you, studying for an MBA could be a very smart option to take.
Whilst you will no doubt have a great understanding of your business idea and perhaps the field it relates to, that alone isn’t enough to build a successful organisation. Entrepreneurship requires a whole host of other capabilities, which are vital to success.
Expanding your skill set
An MBA covers a wide range of business skills, plugging crucial gaps in your skill set and providing you with a solid foundation of business understanding from which you can build a successful company. Modules vary from course to course, but there are several core topics such as marketing, finance, human resources, planning and strategy and customer retention which the majority of courses cover.
Gaining a wider overview of business operations, challenges and strategy will help inform your own business planning, regardless of what stage your business is currently at. For example, gaining insights into pricing strategies may make you reconsider the approach you had initially thought of taking.
Building vital contacts
It’s not all about the hard skills gained though; many universities offering MBA courses have great links with local businesses, large corporations and have alumni who have gone on to great success. The contacts made when studying can provide an invaluable professional network, offering networking opportunities where you can seek support, a sounding board for your ideas, ask for help and advice and even perhaps find investors or future business partners.
In addition to contacts and vital professional capabilities, an MBA will also give you an opportunity to grow as an individual. With a full-time job, family commitments, hobbies and other obligations, life can be very busy and investing in yourself and your personal and professional development is not always possible. Taking the time to study not only expands your skill set, but it can give you valuable insights into how you work, your business ethics and your career goals and can reinforce the importance of maintaining belief in your capability and ideas.
A flexible approach
Wrexham University’s new online MBA’s are ideal for those with entrepreneurial aspirations who are unable to commit to studying on-campus. The courses are delivered 100% online, with all content accessible from a variety of devices, so you can choose a study time which suits you and study anywhere. There are options to specialise in Marketing and Human Resource Management so you can choose which course will best equip you for success on your career trajectory. There is a choice of start dates throughout the year and an option to pay-per-module, so there is no need for large upfront payments. Students may also be eligible for a government-backed postgraduate loan which would cover the full cost of the course.
Regardless of where you are on the journey to starting you own business and becoming an entrepreneur, the right MBA can give you the skills, contacts and confidence to take it to the next level.
Applications are now open. To learn more or to apply, visit: https://online.wrexham.ac.uk/mba/