Small business owners frequently perform multiple ‘jobs’ everyday. Even if the owner has a college degree in the field of their business, it is unlikely that he or she will have expertise in every field of knowledge. For example, an architect who opens his own business has to know accounting, human resources, employment law, and many more subjects.
It is unreasonable to expect anyone to take a class in every possible area of study, however most business owners have a couple of areas that they could really use help in. Here are some classes that many business owners could benefit from taking.
Intro to Finance
Introduction to finance classes can have various names at different schools, such as finance 101 or basics of finance. Regardless of the name of the class, most of them will include instruction in banking, corporate finance, and financial economics. Financial economics is the study of interrelation of financial variables.
You may be saying to yourself “I own a bakery, why do I need to study finance?” Even if you own a bakery, you can benefit from a greater understanding of banking. Sooner or later you will probably need a loan to finance a larger oven or other equipment. A successful dance studio owner can maximize their profit from investing if they understand markets and risk.
Finance is fundamental part of business. Every business owner should have a working knowledge of the various subjects that are taught in a introductory finance course.
Human Resource Management
In a class in human resource management, you will learn about interviewing employment candidates, training and developing your workforce, some employment law, employee benefits and more. Most states have laws that affect the interview process, and prohibit certain questions. There are federal laws that apply to all states, violation …Read More