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The number of American Indian and Alaska Native-owned businesses in the United States is on the rise. According to the U.S. Census Bureau, there are now more than a quarter-of-a-million businesses owned by these minority groups. If you’re a Native American entrepreneur, you play a valuable part in boosting those numbers. Whether you’re just starting your business or working to improve it, one thing you can do is to further your education. Today, Student Caring shares some tips and resources to help you get started.

Boost Your Education

Entrepreneurship education can benefit your business in many ways. First, having certain credentials can help establish your expertise and authority in your field. Secondly, if you take advantage of the flexibility afforded by online learning platforms, you can enjoy huge time savings as you pursue your MBA, learning everything from business strategy to financials, marketing, and more. This kind of comprehensive education will equip you to handle every aspect of your business operations with confidence.

Consider What Type of Education Could Benefit Your Business

The right type of education will depend in part on the type of business you operate. If you’re working in a specific technical field, such as plumbing or electrical work, you need hands-on training. If you’re working in a more generalized field, a basic MBA may serve you well. This can be especially useful when you’re first starting and growing your business. Also, consider whether you want to complete your education in person or remotely. A remote degree program offers great flexibility. Just do your research to make sure the school is accredited.

Research Your Educational Options

Once you’ve decided on what kind of education you want, it’s time to find the perfect program. Beyond subject matter, consider points like the school’s reputation, the credentials you’ll get, and the time required to complete the degree. Cost is another factor to think about—although there are funding and scholarship opportunities, which the next section discusses. A resource like the TCJ Student platform at Tribal College Press is a great place to dial into news about educational opportunities for Native Americans.

Figure Out How to Pay for Your Education

Furthering your education will cost you something. The question is, how much? Determine in advance how much you can afford to pay. You can then look into funding and scholarship opportunities for Native American students to help cover the rest of the costs. Scholarships 360 has a roundup of current opportunities for Native Americans specifically. Of course, you can also take out government loans or private loans. However, in these cases, you’ll have to pay back the money you borrow, which can be costly. Scholarships are usually preferable.

Implement What You’ve Learned

As you further your education, don’t hesitate to put your learnings into practice. For example, you can use what you learn in an MBA program to write a business plan. This is a guidebook to how your company will be structured and run, covering things like a product and service description, financial projections, and marketing plans.

You can then use your business plan to get funding for your business. If you decide to approach investors, it’s a good idea to check your credit report first to make sure there aren’t any unhappy surprises waiting for you. Next, there are many grants available specifically for Native American-owned businesses. The Small Business Administration also has helpful resources that are worth checking out.

Furthering your education can help your business succeed in many ways. The above guide outlines just a few options. The first step is doing some research. Consulting publications designed specifically for Native American entrepreneurs is a great starting point.