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Thinking of Going Back to School?
October 1998 — Thinking of going back to school? Many of today's small business owners are sharpening their business Seventy percent of the small business owners who participated in last month's survey indicated that they continued their education in the past year. Of those who took the survey, 26 percent signed up for a skills-enhancement class, 21 percent enrolled in a four-year college or university, 16 percent attended a community college and nine percent entered an MBA program. Why did survey participants decide to continue their education? Twenty-six percent cited "personal renewal" as the main reason while 16 percent indicated "financial gain" as the incentive to go "back to school." In addition, 14 percent reported that they needed additional technology training and five percent stated that they attended classes due to a change of occupation. The 199 also revealed that small business owners evaluated the pros and cons of juggling business responsibilities with course requirements before enrollment. Thirty-three percent said they talked to a family member before "hitting the books" while 16 percent discussed the idea with a colleague. An additional 14 percent sought the advice of a college professor or career guidance counselor before continuing their education. Finally, most survey respondents recognized the necessity of putting money aside for education. Thirty-three percent said they financed tuition costs with personal savings, while 17 percent took out a loan or paid by credit card.
Click here to view the results of previous surveys.
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