Experts: More MBA holders pursuing small business ventures

Experts: More MBA holders pursuing small business ventures

Due to the competitive job market, many students who have completed campus-based or online MBA programs are choosing to embark on their own entrepreneurial endeavors, BusinessWeek reports.


Many business schools are reporting that submissions to their planning contests have increased over the past year. For example, entries for Rice University's MBA Competition rose by 40 percent this year, and a similar event at the University of Pennsylvania's Wharton School saw a 22 percent increase in popularity.


Experts suggest that many business school graduates are carrying out their entrepreneurial goals as either a fallback plan or a last chance at success. In addition, many members of the Millennial Generation -those between the ages of 18 and 29 - have become more resistant to the traditional business career path.


Business planning competitions can be a good way for prospective small business owners to spread their ideas, as they allow these individuals to mingle with angel investors, venture capitalists and other experienced professionals.


New entrepreneurs typically earn between $34,706 and $74,220 during their first year in business, according to Payscale.com, a research company.

By Stefanie Hughes