In the Andy Griffith TV show, the business owners are not highly educated… think if Floyd the Barber for instance. The highly educated are teachers and, perhaps, ministers.
What about the real world in 2007? Are the ones most likely to become business owners like Floyd the Barber or someone who’s highly educated?
Here’s what some recent research from the US Small Business Administration indicated and where you can read more.
It was once assumed that college graduates would go to work for a Fortune 500 firm and that is often true; what is also true is that more students see entrepreneurship as a viable option for their careers. This study examines the relationship between education and the choice to become an entrepreneur, building on previous research and using the Panel Study of IncomeDynamics (PSID) to analyze the characteristics of the self-employed compared with individuals employed by others. The study finds that educational attainment is an important determinant of self-employment: individuals with more schooling are more likely to start their own business, particularly in certain industries.
A full copy of this report is available here, and the research summary can be found here . Should you need further information, please feel free to contact Chad Moutray at (202) 205-6533 or advocacy@sba.gov.
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