The paper demonstrates that you can be successful not only with education but also without. Now do you need education in order for you to get successful in entrepreneurship? Theoretically speaking, yes, because business is actually a field of knowledge and knowledge and skills have to be learnt. They are not commonsense knowledge. One should actually have competence in the said field if one wants to be successful. To have competence in business (or any other field for that matter), one should be taught by teachers/mentors. Formal education, or going to school, solves that problem. There are people who do not need formal education. They are those who have been living in a certain environment that would make them knowledgeable in a certain field. For example, children of business owners, especially those who keep their businesses in their houses, already have the knowledge in how to run the business. They do not need formal education, if at all, it is just complementary to append their existing, inherent knowledge.
According to a survey by Barclay’s Local Business, only 46% of small company bosses had a degree and only 11% believed achieving a good education is crucial to business success. These people justify their opinions by saying that college education is quite expensive and pursuing college would put them more in debt, hence, they pursue a career in business instead even if they have not earned their college degrees. There are those like Jordan McGreevy, who left school to run his own computer empire. ...Show more