Starting up a business is a dream for many people, and having the skills to make a successful go of it can be what makes or breaks that fantasy. Or perhaps you want to bring the entrepreneurial spirit to a business you already work at. Completing an online master’s entrepreneurship degree is a great way to gain that knowledge and know-how while you continue in your current position. With programs that last from one to two years, on average, you can start learning around your regular work and family life no matter where you live. Our list gives you great degree options that won’t drain your bank account.
What is Entrepreneurship?
Entrepreneurs are people who create a new business. Investopedia lists the 7 characteristics of entrepreneurs as: versatile, flexible, money savvy, resilient, focused, business smart, and communicative. Starting a business involves taking risks, and getting an entrepreneurship master degree is a great way to understand business and figure out what risks are most likely to pay off in your particular business type. Entrepreneurship involves the ambition to create wealth, succeed in a new venture, and to apply your talents in hopes of making a profit. Many people start a business with few business skills and learn as they go. Entrepreneurs, by their nature, are often bold people. But mitigating the risk wisely while you start your company is much more likely to succeed if you get a master’s in entrepreneurship online.
GetEducated's Picks
- Johns Hopkins University Master of Biotechnology Enterprise & Entrepreneurship
- Ohio University Graduate Certificate in Business Venturing & Entrepreneurship
Benefits of Entrepreneurship Degrees
Starting and running a business may seem simple, but in reality, there are many types of knowledge and skill involved that most people do not get from an undergraduate degree. Most master’s level entrepreneurship programs will have courses that cover such topics as accounting/finance, marketing, organizational behavior, leadership, human resources management, analysis, and strategy. Even if you have an undergraduate degree in business, there are many benefits of entrepreneurship degrees that will give you the tools to innovate, create, and lead a new venture. The difference between a master’s in entrepreneurship vs MBA is that the entrepreneurship degree will cover more tailored topics for the culture, analysis, and strategy as it applies to starting and leading an organization, whether a nonprofit, a technology start-up, or a family restaurant.
Types of Degrees: Master’s in Entrepreneurship vs MBA Degree
Not all master’s in entrepreneurship online degrees are MBAs, and not all MBAs give you entrepreneurship training. That said, many of the degrees for aspiring business owners are MBAs with a focus on entrepreneurship, and these programs will include an emphasis on general business skills as they apply to starting a business, giving you extra competence in leadership from a business perspective. There are also some entrepreneurship master degrees that are master of arts or master of science degrees. These may have some of the same classes as you would get in the best business schools for entrepreneurship, but they can have a focus on social good or on innovating in STEM businesses. When you are choosing a master’s in entrepreneurship online program, the focus of the program should align with your interests and the culture of the type of business that you want to pursue. The best schools for entrepreneurship can be affordable, offer any of the degree types, and teach many of the same skills, yet the small differences in the emphasis can make a degree program right for you.
Careers with an Online Master’s in Entrepreneurship
The traditional thing to do after you get a master’s in entrepreneurship online would be to go out and start a business. The business that you start could be almost anything, from a retail store or restaurant to a manufacturing company. It could offer a service, such as cleaning carpets, financial advising, cosmetology, transporting goods or people, printing documents, or home health care. There are many people who start technology companies that change the way we do things, either for almost everyone or just a small slice of people, like a diabetes tracking app, an app for marathon runners, or a very niche B2B app that makes life easier for small businesses. An entrepreneur may strive to start a one-person business, or join together with a team to start a company that is designed to grow to thousands of employees within a few years.
Yet not all people who get an online master’s in entrepreneurship want to found their own business. Some people want to start a nonprofit to help people, and while nonprofits have many similarities to for-profit companies, there are different skills required. Other graduates of these programs may apply the entrepreneurial spirit and skillset to work within a big corporation to help innovate, lead, and compete in a global marketplace. Jobs that can work for entrepreneur graduates might be marketing manager, director of social media, business manager, innovation manager, recruiter, business consultant, appraiser, business analyst, and many other titles. The skills and knowledge that it takes to be an entrepreneur can apply to any industry, helping to identify market opportunities, manage innovation, and think strategically. These skills are valuable in large companies just as they are in small enterprises, so many graduates may find they prefer to work within an established company.
Master’s in Entrepreneurship Salary
There are so many businesses that people start that salaries can be all over the map. While a barber may make an average of $27,630, a median salary for a top executive of a company is $107,680. Because the range of industries is so broad, the expected salary can range widely, with those who are in technology, finance, or scientific businesses on the higher ends of the payscale. From surveys, recent average master’s in entrepreneurship salaries are $68,000, $54,640, or $61,458 per year.
The outlook for businesses can also range widely. Self-employed workers, who are often small entrepreneurs are rising in many fields, including childcare, construction trades, hairdressers, landscapers, real estate agents, house cleaners, management analysts, and taxi drivers. With a trend towards self-employment and the out-sourcing of many business services, smaller businesses are finding many more niches in the economy that they can occupy. On the other side of the coin, there are certain business types that have been largely taken over by large companies, making it hard for an entrepreneur to survive. One example would be bookstores, as the convenience of ordering books on Amazon has made it very hard for small bookstores to survive. Here is where a degree from one of the best schools for entrepreneurship can give you the tools to analyze business opportunities before you invest your time and money in an enterprise.
13 Most Affordable Online Master’s Entrepreneurship
Fayetteville State University
Degree: Master of Business Administration / Entrepreneurship
Total Cost (In-State): $8,410
Total Cost (Out-of-State): $19,973The MBA program with a concentration in entrepreneurship from Fayetteville State University requires 39 credits of work, including 27 core credits, two elective classes in the concentration, plus a capstone project. Core courses include Managerial Economics, Data Analytics, and Modern Marketing. The elective options include New Ventures and Entrepreneurship, Electronic Commerce, and International Business Management. The program has multiple start dates per year, and applicants should have a 2.75 undergraduate or 3.0 graduate GPA and a GMAT score of 400. Conditional admission may be granted to candidates who don’t meet the requirements, and there are many ways too waive the GMAT requirement. For a program with maximum flexibility for working professionals, plus an incredibly low cost for in-state students, the FSU program should be on your list to consider.
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Master of Business Administration / EntrepreneurshipSoutheastern Oklahoma State University
Degree: Master of Business Administration / Entrepreneurship
Total Cost (In-State & Out-of-State): $11,880
For a very quick online master’s in entrepreneurship, Southeastern Oklahoma State University’s program can be completed in as little as 12 months fully online. Not only is the program inexpensive and convenient, but there are four start dates per year with a short time between application due dates and the start of your courses. Application requires a 2.5 GPA and there is no GMAT needed. MBA core courses include Behavioral Management, Research Methods, and Data Analysis for Managers. For the concentration, classes include Marketing for New Ventures, Organizational Health & Conscious Capitalism, and Scaling the Business. This 36-credit program is a real bargain, and offers students the option to complete their program in a short amount of time, or spread it out to accommodate a busy work life.
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Master of Business Administration / EntrepreneurshipUniversity of the Cumberlands
Degree: Master of Business Administration / Entrepreneurship
Total Cost (In-State & Out-of-State): $12,105University of the Cumberlands’s MBA in entrepreneurship is designed to accommodate busy professionals who want to earn their master’s degree while they continue in their current roles. The 37-credit program has 21 credits of core courses, nine credits of electives, a one-credit applied learning practicum, and 15 credits of concentration classes. Some of the courses students will take include Managerial Economics, Business Analytics for Strategic and Organizational Performance, Managing in a Global Environment, and New Venture Development. Application requires a 2.5 GPA, and international students are welcomed. With incredibly low tuition for all online students, and a discount for military students, this is a high-quality and affordable program for any aspiring business professional.
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Master of Business Administration / EntrepreneurshipDickinson State University
Degree: Master of Entrepreneurship
Total Cost (In-State & Out-of-State): $12,161
Students in the entrepreneurship master’s program at Dickinson State University are encouraged to start an enterprise while they are going through their program, though it is not required. This 30-credit program allows students to transfer up to 9 credits of work from another program. Classes in the program include Business Finance, Entrepreneurial Marketing, Creativity and Innovation, and Strategic Management and Policy. Applicants should have a 3.0 GPA, but those with lower GPAs may be admitted based on documented potential. Applicants also need to take the school of business entrance exam, with affordable and self-paced leveling courses required for those who don’t demonstrate competence in four main business areas. For a quality curriculum, an affordable tuition price, and a convenient program, the Dickenson State master’s offers a great option.
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Master of EntrepreneurshipLouisiana State University – Shreveport
Degree: Master of Business Administration / Entrepreneurship & Family Enterprise
Total Cost (In-State & Out-of-State): $12,474
There are six start dates per year for the convenient master’s in entrepreneurship online from Louisiana State University-Shreveport. With 30 credits of study, students can complete the program in as little as ten months fully online. Classes include Management Information Systems, Organizational Behavior, Small Business and Family Enterprise, and Labor and Employment Law. In addition, students can choose an elective from a long list of classes including quantitative methods, hospitality businesses, taxation, communication, international business, process improvements, investments, and more. Applicants can have a GPA as low as 2.5 with either professional experience or GMAT scores, while those with a 3.0 GPA can apply without additional qualifications. LSU-Shreveport’s program is not only very affordable, but offers fascinating electives that allow students to pursue subjects that matter most to them.
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Master of Business Administration / Entrepreneurship & Family EnterpriseUniversity of Louisiana at Lafayette
Degree: Master of Business Administration / Entrepreneurship
Total Cost (In-State & Out-of-State): $12,800
University of Louisiana at Lafayette’s entrepreneurship MBA is an accelerated online program that can be completed in 15 months of study. There are four start dates per year, and all classes are in a convenient 8-week format. Classes include Analytic Methods for Planning and Control, Advanced Financial Management and Policy, Marketing Management, and Law for Entrepreneurs. Applicants should have a 2.75 GPA plus either three years of professional experience or acceptable GMAT scores, though those with a 3.0 GPA can waive the additional requirements. All books and materials are included in the tuition price, which makes the UL Lafayette program both convenient and cost-effective.
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Master of Business Administration / EntrepreneurshipSouthern Arkansas University
Degree: Master of Business Administration / Social Entrepreneurship
Total Cost (In-State): $13,070
Total Cost (Out-of-State): $18,542The social entrepreneurship MBA at Southern Arkansas University is 36 credits and can be completed in two years by taking two classes per semester including summer terms. While it is designed for those with an undergraduate degree in business, others can enter the program after taking a 24-hour prerequisite program. Classes include Accounting for Decision Making, Strategic Marketing, and Enterprise Resource Planning. There are also electives that include Environmental Economics, Non-Profit Fundraising, and Social Activism. The program can be taken completely online, or students can choose a hybrid format. With an emphasis on creativity and social responsibility, this degree is great for students who seek to do good for the world while doing well for themselves in business.
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Master of Business Administration / Social EntrepreneurshipFlorida State University
Degrees: Master of Entrepreneurship / Hospitality Entrepreneurship, Master of Science in Entrepreneurship / Social & Sustainable Enterprises
Total Cost (In-State): $13,328
Total Cost (Out-of-State): $32,270Florida State University has two affordable online master’s degree concentrations in their college of entrepreneurship: hospitality or social and sustainable enterprises. Both programs have three core courses: Accounting & Finance for Entrepreneurs, Strategy Formulation, and Foundation in Entrepreneurship & Leadership, plus courses in the focus area and electives. Additionally, students are encouraged to attend one of the international experiences which are scheduled throughout the year. Applicants just need to have a US bachelor’s degree or equivalent, and submit GRE or GMAT scores. With a specialized curriculum, a robust community of entrepreneurship students and faculty, and the option to get international experience, the FSU program is an interesting and solid option for future business leaders.
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Master of Entrepreneurship / Hospitality Entrepreneurship
Master of Science in Entrepreneurship / Social & Sustainable EnterprisesEast Texas Baptist University
Degree: Master of Business Administration / Entrepreneurial Leadership
Total Cost (In-State & Out-of-State): $13,613
The entrepreneurial leadership MBA from East Texas Baptist University offers students 33 credits of study that include such courses as Economics and the Free Market, Social Media Information Systems, Leading and Managing Change, and Strategic Human Resource Management. Applicants should have a minimum cumulative GPA of 2.75 and should have good character, meaning that they have not been convicted of a felony or Class A misdemeanor. Students can begin in the fall or spring semester, and the program runs for 16 months. For students who seek a Christian ethical perspective in their entrepreneurship education, the MBA from East Texas Baptist makes a great choice.
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Master of Business Administration / Entrepreneurial LeadershipLindenwood University
Degree: Master of Science in Fashion Business & Entrepreneurship
Total Cost (In-State & Out-of-State): $13,925
For students with a passion for the fashion business, Lindenwood University’s online MS program can help them jump-start their own business. The 30-credit program offers students the option of an applied project or a thesis as their culminating project for the degree. Core classes include Research and Scholastic Writing, Graduate Seminar, and Thesis/Directed Project I. The elective courses include such topics as finance, small business management, apparel buying, fashion marketing, 3D fashion design, and more. Applicants need an undergraduate degree in a related field with a 3.0 GPA, or if the GPA is below 3.0, will be required to submit GRE scores. This degree is great for students who want to forge their own path in the fashion business, as it allows for individualized options that will help students realize their dreams.
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Master of Science in Fashion Business & EntrepreneurshipAmerican Public University System
Degrees: Master of Arts in Entrepreneurship, Master of Arts in Management / Entrepreneurship, Master of Business Administration / Entrepreneurship
Total Cost (In-State & Out-of-State): $14,450 – $15,625With the online MA in entrepreneurship or the MBA option from American Public University System, students can transfer in up to 15 credits of the 36-credit program with no transfer evaluation fees. There are courses starting every month, and they may be in 16-week or 8-week format. There are three possible concentrations within the MA: Sports Fitness, Small Business, or Business Analytics. All master’s students take core courses. Then students complete the courses for their concentration, and finally, a Capstone project. Applicants should have an undergraduate degree in business that is accredited by one of the programmatic accrediting agencies, or they will be required to take prerequisite programs before they begin. APU’s degree programs are great for those who have credits to transfer or who seek a specialization in one of the concentrations offered.
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Master of Arts in Entrepreneurship
Master of Arts in Management / Entrepreneurship
Master of Business Administration / EntrepreneurshipUniversity of West Alabama
Degree: Master of Business Administration / Entrepreneurship & Innovation
Total Cost (In-State & Out-of-State): $14,457
University of West Alabama’s online MBA program is 33 credits long, with 24 core credits and nine credits of entrepreneurship courses, with students able to choose their specialization courses. Options include Business Model Design & Innovation, Social Entrepreneurship, Cross-Cultural Innovation Management, and Venture Capital. Students can opt for a thesis or project as their final course. Classes are eight weeks long, and the whole program can be completed in one year. Applicants need a 2.5 GPA to be admitted conditionally, or a 2.75 for regular admission. Those without a business degree will be required to take a foundation course as their first class. Up to nine credits can be transferred from another program. UWA’s degree program is a flexible and affordable option for those who seek an entrepreneurship master’s.
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Master of Business Administration / Entrepreneurship & InnovationBall State University
Degree: Master of Business Administration / Entrepreneurship
Total Cost (In-State): $15,984
Total Cost (Out-of-State): $22,980The MBA concentration in entrepreneurship at Ball State University includes core, foundation, and entrepreneurship courses. The program requires no campus visits, and courses are both synchronous and asynchronous online, with robust interaction and technical support. Courses in the program include Entrepreneurial Leadership, Statistics and Quantitative Methods, Information Systems, and Economic Analysis for Managers. For students who have a business degree, the program can be completed in 30-34 credits, while those with a different undergraduate major can finish in up to 43 credits of study. Students who seek a solid and comprehensive MBA curriculum with a focus on entrepreneurship will find just that in the Ball State University program.
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Master of Business Administration / Entrepreneurship
Begin an Entrepreneurship Master’s Today!
If you want to start a new enterprise, getting a degree from one of the best business schools for entrepreneurship can make your journey much easier. With an online master’s in entrepreneurship, you get to keep your life stable while you lay the foundations to start your business with the best chance of success. Launch your dream, but prepare the ground for triumph by getting your master’s in entrepreneurship online from an affordable—and reputable—program on our list.