New York is often identified as being closely associated with high finance. And finance has a longstanding home in New York’s Wall Street. The city also houses the New York Stock Exchange, which is the largest stock exchange in the world; its capitalization is more than $30 trillion.
Not only to the New York Stock Exchange and Wall Street define the city; so too do banks such as JPMorgan Chase, Citigroup, and Morgan Stanley.
Knowing this, it’s no surprise that the top industry in the state is finance and insurance, with revenues of $309.2 billion each year. Other high-grossing industries include real estate, rental, and leasing; which is right behind finance and insurance. Next is professional and business services, with the third-highest revenues. Educational services, healthcare, and social assistance is fourth on the earned revenues list, followed closely by information.
Finance and entrepreneurship are a natural match. One of the hottest sectors for entrepreneurs right now is “fintech”. Entrepreneurs who have entered financial services and technology are customer focused and are comfortable working with mobile technology. It’s a necessity in the current economy to make use of disrupting online and mobile platforms, even if you don’t touch cryptocurrency. These professionals are hard at work disrupting traditional industries, such as banking and insurance.
Entrepreneurship Education in New York
An entrepreneur usually develops an idea for a new business or an innovative product or service. Once they have fully fleshed out their idea, they develop the enterprise or business into a profitable enterprise; then they can choose to manage the business while they pursue new outlets, or they may sell the business and invest their profit into something new. They are best known for always looking for a new problem to solve, either by offering a new product or service, but they are also known for facing the majority of the risks for the success or failure of the new business.
Some entrepreneurs may go to a university or community college that offers entrepreneurship degree programs, while others may have other types of business degrees. New York is an excellent setting for entrepreneurs who want to start and operate a successful business, and there are plenty of places for anyone interested in being an entrepreneur to earn an entrepreneurship degree in New York.
The actions of an entrepreneur define who and what they are. These include taking on personal risk and earning the profits of a successful business. Their willingness to assume this risk and work to fill gaps in the existing marketplace makes them a vital part of the US economy.
Associate Degree in Entrepreneurship (AS)
An Associate of Applied Science in Small Business/Entrepreneurship might be an excellent way for prospective students who are considering starting their own small businesses to get some understanding of the field. Or you can choose to earn an Associate of Arts or Science in business or entrepreneurship depending on what is available either close to you or in accessible online programs. These programs can be found in many formats: on-campus, online, or as a hybrid options (partially on-campus and partially online).
In these programs, students benefit from career enhancement and a greater knowledge of business. These programs are known for focusing heavily on business first, and then providing an overview of entrepreneurship within that framework. After all, if students don’t understand business, they will not be able to start their own.
These types of academic program show students how to reduce the risk of beginning their own businesses, though it cannot be removed altogether. They also allow them to create a valuable network of mentors and fellow students who are either interested in entrepreneurship or have their own skills they could bring to the table in a new business. Practical courses can teach students project organization, team management, market and industry analysis, growth mindset, and the lean start up method.
Bachelor's Degree in Entrepreneurship (BS)
Prospective business students thinking of earning their degree may want to consider earning a Bachelor of Science in Business, Technology, or Entrepreneurship instead of an associate degree. These types of degree programs have been created to help students develop their entrepreneurial mindset and learn to use both business and technology competencies.
You might also be able to find a program at this level that is STEM-certified as a four-year degree program. Students can learn the fundamentals of business, technological competencies, and social impacts of their new business ideas by completing a thorough, accredited degree at this level. Students may also move through these programs with each other, as a cohort, which allows them to form better networks among other students. Curriculum can include experiential courses in entrepreneurship, technology, and more.
Master's Degree in Entrepreneurship (MS or MC)
Graduate students who are interested in earning a master’s degree in entrepreneurship may choose to earn a Master of Science or Master of Arts in entrepreneurship, though the MS is the more common degree type. These programs are available from public and private colleges, as well as from business schools, and most have been designed for students who come from a variety of different backgrounds; those who may be involved in family businesses or who are focused on beginning new, entrepreneurial businesses.
These college degrees offer students the skills, competencies, and knowledge they need to begin businesses in a huge variety of sectors or industries, though you may need some in-industry knowledge in order to be successful in the long run. Students at this level benefit from dynamic programs that stress an experiential (real-world experience) focus.
Students may also choose to earn a Master of Business Administration (MBA) with a concentration in entrepreneurship. However, these degrees are more likely to require that prospective students already have an undergraduate degree in business and may have higher entry requirements. Even so, these degrees are an excellent options that allows graduate students to develop the skills they need to build their business, develop and plan the venture, and then launch and sustain it.
PhD Degree in Entrepreneurship (PhD)
A PhD in Business program may be taken as full-time or part-time doctoral programs. There are a variety of options offered within the state of New York, so there won’t be any reason to look elsewhere if you are already employed in the state. You may also choose from a variety of areas of study such as Accounting, Finance, Marketing, Operations and Decision Analysis, Management, Information Systems, and more.
Many PhD programs are aimed at executives who have seven years or more of experience in the business world. Keeping this in mind, candidates may need to earn 60+ credits between foundational courses and those in their specialization. Every specialization also has its own required set of courses.
Become an Entrepreneur in New York
Entrepreneurs who earn certifications or certificates from an affordable college may find that their entrepreneurial businesses and careers go farther. Because they have taken the time and trouble to complete these programs, their career outcomes may be more positive. This is because entrepreneurs must often find outside financial support for their endeavors, and those who go out of their way to prove their expertise are more likely to receive sufficient capital to succeed in their new ventures. Here are just some certificate options for entrepreneurs in the state.
Entrepreneurship Development Professional:
This program, offered by the Kauffman Foundation and the US Economic Development Administration, is intended for those who work with or for entrepreneurs and small businesses. The certification offers economic development and community development approaches, along with entrepreneurship, helping to create and support the businesses and business owners.
This certification is for professionals working at banks, investment firms, or venture capital firms; economic development organizations; chambers of commerce; entrepreneurship support organizations; institutions of higher learning; or city, county, state, or federal government agencies.
The benefits of this certification include ongoing professional development and instruction from experienced entrepreneurs on the design and implementation of entrepreneurship-led economic development. This includes ELED strategies, interactive and hands-on training courses, and opportunities to evaluate, develop, or build on ELED strategies for the professional’s community.
Daymond John Certificate in Entrepreneurship for Adults:
This certificate program offers the expertise of Shark Tank’s Daymond Johnson, who offers instruction on entrepreneurial sustainability, pitching, marketing and social media, growth strategies, branding, financing, and staff development.
Stanford Innovation and Entrepreneurship Certificate
This eight-course certification offers valuable, in-depth instruction to those entrepreneurs who are both advanced and experienced. Topics include innovation skills, current market research, and people insights. People enrolled in this program also benefit from working with Stanford coaches.
John F. Kennedy University Advanced Certificate in Entrepreneurship
This six-month certificate program allows students to embark upon and complete an intensive training course on entrepreneurship topics, business plan guidance, and understanding investors and lenders, while they work one-on-one with mentors.
Careers for Entrepreneurship Graduates
- Business Owner:
A business owner controls both the monetary and operational processes of a business that either produces a product or offers a service. This business may be operated by a freelance writer or editor, or it may be an e-commerce store. They may graduate from a college of business, gain some experience, and decide to open their own business, which necessitates writing a business plan or making other preparations.
The business owner may be the sole person working in the business, or they may operate with employees and other managers. The business owner holds the responsibility of choosing business strategy, ensuring staff is trained, and overseeing daily business operations, among other things.
An appraiser in real estate determines the market value of a commercial or residential property. They may also work in art, jewelry, or another field. Appraisers act independently, not only for the interests of the buyer or seller. They closely inspect the property and develop their own opinion of its value. This must be unbiased using visual observations, facts, statistics, and other pertinent information. Once they determine the value of the property, they present their findings to their client or employer.
- Web Developer:
A web developer writes programming code which instructs websites on how they should operate. They may focus on front end, back end development, or both (full-stack developers).
- Social Media Manager:
Social media managers handle a variety of responsibilities including social media accounts which may include Snapchat, Facebook, Pinterest, Twitter, Instagram, or whatever new things pops up. They manage the brand’s social media channels in order to project a certain type of messaging or to improve engagement from customers, depending on what the businesses social media strategy requires. They also moderate, monitor, and respond to comments from customers.
- Systems Analyst:
Computer systems analysts study an organization’s computer systems and procedures. They develop improvements with the goal of allowing the computer system, and organization, to operate more efficiently. Before they make changes to the network, they confer with managers and research various technologies, looking for the one which will work best.
- Management Analyst:
Management analysts may also be called management consultants. They find ways to increase organizational efficiency and profit by increasing revenues and reducing costs. Their duties include gathering and organizing information about issues to be corrected or improvements to current procedures, interviewing employees, and carrying out on-site observations to figure out which equipment, personnel, and methods are needed. They also analyze financial and other data (revenue, expenditure, and employment reports) and develop new or alternative practices.
- Brand Manager:
A brand manager focuses on maintaining consumers view of their brand. They are responsible for ensuring that products, services, and even employees are seen a certain way and that certain messaging about the company is prominent.