Who says you have to go to college to be an entrepreneur? No one is going to look at your resume and tell you that you’re not eligible to start your own business if you don’t. So is college really necessary? Matthew Bandyk, who writes the U.S. News and World Report entrepreneurship blog Risky Business, recently contemplated that exact question.

According to one side of the debate, there isn’t much that a standard four-year bachelor’s degree can do for you in terms of giving you the practical skills that will aid you in running your business day-to-day. On top of that, college is expensive, as is starting a business. Why not save yourself the tuition money and put it toward your upcoming business? Basically the argument is that if you are truly smart and have entrepreneurial blood running through your veins, then college is unnecessary.

The other side of the debate, however, has “undeniable evidence” to back it up, according to Bandyk’s post. The evidence shows that “entrepreneurs who go to college are more successful than those who don’t.”  Apparently writing useless papers on subjects that mean nothing to you isn’t so useless after all. “Doing so imparts skills such as how to synthesize, analyze and present reams of information in a clear and concise manner—abilities that are crucial for any number of jobs.” In addition, there is a multitude of networking opportunities available within the college scene.

I’m a huge proponent of higher education, so I fall more within the pro-college side of the debate. I think that Bandyk nailed it in an earlier post when he talked about studying entrepreneurship while also studying an outside niche. “While successful company builders have a natural inclination to be entrepreneurs, sometimes it takes education to bring that inclination to full bloom, he writes.” Studying an outside niche allows you to have a specialty and a more in-depth knowledge of a subject you are interested in.

What side of the debate do you fall into? In terms of entrepreneurship, do you think college is a waste of time or a worthwhile investment?

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