Photo courtesy of UM-Dearborn, College of Business

By SARAH MARTIN, Guest Reporter

The University of Michigan-Dearborn College of Business launched a new major, Small Business Management, for the Fall 2017 semester.

The major combines courses from accounting, management, marketing, and many others to expose students to all aspects they may encounter when owning a small business. In addition, the College of Business created a new course titled “Small Business Management” as capstone course that will be available during the Winter semester only.

“The Small Business Management (BPS 441) course is being taught by Professor Keyes, who has extensive experience in this area,” said Dr. Karen Strandholm, chair of the College of Business. “Our goal is to prepare students who are thinking about starting their own small business, or to help those thinking about taking over family businesses.”

The decision to add the major was based on student interest and recent studies done by the Bureau of Labor Statistics, which forecasted a massive growth in the demand for small business professionals in the upcoming years.

“We ran our own analysis with the Educational Advisory Board to look at the market demand,” Strandholm says, “We found 57 percent increase in demand from July 2014 to December 2015.”

Although the analysis was completed over almost two years ago, it takes time to gain the necessary approval before a major is added. One of the primary hurdles was seeking approval from the President’s Council—which only meets four times a year—though many other approvals needed to be met before it was announced on May 18.

A total of 21 credits are required for the major, with 5 mandatory courses and 2 optional from a select list. Small Business Management is only offered as a major at this time.

To learn more about the major or to schedule an appointment with an advisor, visit the College of Business Student Services.