As an entrepreneur and small business owner myself, I understand how valuable online education can be. My own business has benefited from e-learning, and the statistics show many opportunities for small and medium enterprises.
Here are 19 insightful stats all small business owners should know about the rapid growth of online education.
Online Degrees Benefit Small Business Owners
- 99% of online US degrees are earned by domestic students. This makes online education perfect for busy entrepreneurs.
- Some 47% of small business owners hold an undergraduate degree. Online bachelor‘s programs are flexible for working entrepreneurs.
- 24% of small business owners have earned a master‘s degree which helps their business succeed. Online graduate degrees are an option more entrepreneurs can now access.
I‘ve seen firsthand how small business owners can flourish by earning an online degree while running their company. The flexibility helps them gain knowledge and credentials.
Opportunities for Employee Training
- 90% of US corporations now use online training programs for employees. Small businesses can benefit from this trend too.
- The typical US company spends $1,286 per employee on training each year. Quality online courses can lower costs.
- Employees retain 25-60% more from online courses than in-person training. Retention means workers utilize what they learn.
Online training lets small business owners educate employees in affordable, effective ways. I recommend developing customized online training programs to maximize talent and productivity.
How Online Learning Benefits Entrepreneurs
- Some 68% of online students also work full time. This shows e-learning works for busy business owners.
- An estimated 42% of educational institutions see increased profits after offering online courses. Individual entrepreneurs can also monetize online learning.
- The US online learning market will grow to $325 billion by 2025, presenting opportunities for edtech startups.
As an entrepreneur who learned online myself, I‘m a firm believer in e-learning for business owners. The flexibility has allowed me to gain new skills while running my small business.
Opportunities in Edtech
- Investors have poured over $13 billion into the US online education industry already.
- The global mobile learning market is predicted to grow by $37.6 billion from 2020 to 2025.
- By 2025, the global massive open online course (MOOC) market could exceed $25 billion.
These numbers showcase the opportunities for entrepreneurs in educational technology. Small businesses have the agility to capitalize on emerging edtech trends.
Tips for Small Businesses
Here are my top tips for small and medium enterprises looking to leverage online education:
- Utilize free online business and management training content to upskill yourself as a founder.
- Research investing in customized e-learning for employees to improve talent development.
- Consider developing online courses focused on your business expertise to generate a new revenue stream.
- Stay on top of new edtech innovations that could benefit your small business.
The world of online education is being transformed rapidly. As an entrepreneur, staying current on the latest statistics and trends can help your small business remain competitive.
