Many HBCUs share a common mission to elevate Black students’ business education and provide valuable entrepreneurship opportunities. While a degree isn’t required to launch a small business, obtaining one provides essential business-minded skills that significantly increase one’s chances of success.
The median salary for professionals in this field is $79,050, and graduates with entrepreneurship degrees can pursue various careers. With an associate degree, sales and insurance agent positions are accessible. A bachelor’s degree with a minor or specialization in the appropriate field opens doors to roles such as HR specialist or financial analyst. In contrast, a master’s degree can lead to marketing, finance, or HR leadership positions.
This article will explain what to expect from these programs, potential courses, career outlooks, and tips on choosing the right program to match your goals.
Why Attend an HBCU Entrepreneurship Program?
Attending an HBCU entrepreneurship program gives Black students access to a unique educational environment where their cultural heritage and entrepreneurial ambitions are celebrated and nurtured. With approximately 48,800 degrees awarded for the 2021-2022 academic year, HBCUs are committed to promoting entrepreneurship education to employ students and shrink the racial wealth gap. Additionally, these institutions provide a supportive community that better understands the challenges faced by Black entrepreneurs and offers resources to overcome them.
Lastly, HBCUs offer diverse networking opportunities, connecting students with successful Black business leaders, mentors, and peers, which can be invaluable in launching and sustaining a business. This focused support can make a significant difference in achieving entrepreneurial success.
Top HBCU Entrepreneurship Programs
How we rank schools
This list features some of the best HBCU entrepreneurship programs at top colleges nationwide. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for postsecondary education.
We evaluated each school’s program on admission, retention, and graduation rates as well as tuition costs, faculty, reputation, and student resources. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.
Next, we compared this comprehensive list of HBCU entrepreneurship programs to a list of aggregated college rankings from reputable publications like U.S. News & World Report, among others, to simplify a student’s college search. We pored through these rankings so students don’t have to.
What to Expect from an HBCU Entrepreneurship Program?
As a student in an HBCU entrepreneurship program, you can expect a combination of cultural heritage and innovative business education.
Associate degrees offer foundational courses in business principles, focusing on skills like financial literacy, marketing, and management, preparing students for entry-level positions or further study. Bachelor’s programs aim to take that education up a notch, covering topics like business strategy, leadership, and startup creation, often including internships or hands-on projects. Master’s programs provide a more specialized education, emphasizing leadership, innovation, and global business perspectives, often with opportunities for mentorship and networking.
Regardless of your degree level, you’ll benefit from a supporting community that champions Black entrepreneurship and social impact.
Potential courses you’ll take in an HBCU entrepreneurship program
- Principles of Entrepreneurship: This foundational course introduces students to starting and managing a business, including idea generation, business planning, and risk management.
- Financial Management for Entrepreneurs: Another fundamental component of these degree programs, this class covers the fundamentals of financial decision-making, including budgeting, forecasting, and securing funds for new ventures.
- Marketing Strategies for Startups: Commonly found in bachelor’s degree programs, this course focuses on developing effective marketing plans, utilizing digital tools, and understanding consumer behavior to promote new businesses.
- Social Entrepreneurship: This upper-level course explores how to create businesses that address social issues, emphasizing sustainability, community impact, and ethical practices.
What Can I Do with an Entrepreneurship Degree?
With this degree, you can start your own business or take on leadership roles in various industries. At the undergraduate level, opportunities abound as a small business owner, while specializations in marketing, human resources, and finance open doors to roles like marketing manager, financial analyst, or HR specialist. The median salary for occupations in this field is $79,050, with over 911,400 new job openings projected yearly, offering a solid career outlook.
Career outlook
- Insurance Sales Agent — These professionals help clients select insurance policies that meet their needs, providing guidance on coverage options and assisting with policy applications.
- Median annual salary: $59,080
- Projected employment growth (through 2032): 8%
- New jobs projected: 42,500
- Human Resources Specialist — An HR specialist recruits, screens, and interviews job candidates while managing employee relations, benefits, and training programs within an organization.
- Median annual salary: $67,650
- Projected employment growth (through 2032): 6%
- New jobs projected: 51,400
- Marketing Manager—Those with a graduate degree may be eligible for positions as marketing managers. In these positions, they develop and implement marketing strategies for businesses, focusing on growth and customer acquisition.
- Median annual salary: $156,580
- Project employment growth (through 2032): 6%
- New jobs projected: 24,300
How to Choose the HBCU Entrepreneurship Program That’s Right For You
Consider your needs and goals
Your first step in choosing the right program should be clarifying your career goals and education level. Determine whether you’re seeking an associate, bachelor’s, or master’s degree based on your background and intended career path. You’ll also want to consider any specializations that align with your interests, such as marketing, finance, or human resources. Additionally, factor in your logistical needs, like program length, whether you prefer online or in-person learning, and location.
By clearly understanding your goals and constraints, you can select a program that best supports your journey toward a successful entrepreneurial career.
Research schools and programs
After assessing your needs and goals, you can research schools and programs by considering a few key factors and how they align with your objectives. You may come into this process with some questions of your own, but here are a few more worth considering:
- Does a recognized accrediting body accredit the program?
- What are the eligibility requirements, and do I meet them?
- Does the curriculum align with my career goals and intended specialization?
- What expertise do the faculty members bring, and how relevant is their experience?
- Are there format options (online, in-person, hybrid) that suit my schedule and learning style?
You can find this information on program websites, by speaking to an admissions counselor, and by attending an open house or information session.
Determine how you’ll pay for your entrepreneurship degree program
According to the National Center for Education Statistics, the average annual tuition is $14,688 for an undergraduate degree and $20,513 for a graduate degree. These costs can be significant, but you can manage them by strategically using financial aid resources.
Start by submitting the FAFSA to determine your eligibility for federal aid, including grants, work-study, and loans. Apply for institutional and external scholarships and grants, which may be offered by the schools you’re considering or other sources – like non-profits and certain employers. Explore assistantships or work-study programs, which can offset costs while gaining resume-boosting work experience. If you’re currently employed, ask if your employer offers tuition reimbursement.
Lastly, if borrowing is necessary, prioritize federal loans over private loans due to their lower interest rates and more flexible repayment options.
HBCU Entrepreneurship Programs Frequently Asked Questions
How do I apply to an HBCU entrepreneurship program?
The application process will vary depending on whether you’re applying for an undergraduate or graduate program. For example, most undergraduate programs require:
Graduate programs have slightly different requirements, including:
- Undergraduate transcripts
- Statement of purpose
- Resume or CV
- Letters of recommendation
- GRE or GMAT scores
Don’t hesitate to contact an admissions counselor for further clarification on these requirements. They can provide additional guidance and ensure your application is complete.
How much does an entrepreneurship degree cost?
The cost of an entrepreneurship degree largely depends on the degree level you’re seeking. On average, annual tuition is $14,688 for undergraduate programs and $20,513 for graduate programs. However, it’s important to note that tuition is just one part of the overall expense. You’ll also want to prepare for costs related to commuting and housing, which can add up over time.
How long does it take to complete an entrepreneurship degree program?
The time it takes you to complete this degree will vary by program level. An associate degree takes around two years to complete, while a bachelor’s degree usually takes four years of full-time study. For a master’s degree, the average completion time is 18 months to two years, depending on the program’s structure and whether you study full- or part-time.