Explore Courses
Top University
Jagpreet
02 December, 2024
Table of Contents
“Kaun kambhakt bardasht karne ke liye business karta hai? Profit hone chahiye, sirf profit!”
In the world of entrepreneurs, BCom is like a secret success formula. It is the ultimate guide for aspiring entrepreneurs; this is how your BCom would profit your new business world. BCom, known as the Bachelor of Commerce, teaches you the art of money management through concepts like accounting and financial planning. It also includes taxation knowledge, helping you turn complex business concepts into practical tools.
However, its success doesn’t stop here. To help you become an entrepreneur, it reveals the secrets of marketing, operations and human resources. The success story of BCom has been evolving for decades. It’s an evergreen course in finance and management, just like the story of “The Thirsty Grow.” You might wonder how BCom could prepare you for entrepreneurship when it’s more about finance.
Well, that’s why BCom is a secret formula because most people think the same. So, diving into this blog would help you discover how BCom prepares students for entrepreneurship. You would also learn the perks of enrolling in a BCom programme. So, without wasting any more time, let’s get into it.
BCom, or Bachelor of Commerce, is a 3-year undergraduate programme. The course is the most sought-after among finance aspirants. As its name suggests, the course revolves around the commerce concepts. However, its reach is beyond finance and accounting. Being a foundational course, it provides knowledge on different aspects of the business world besides accounts. Before discovering the relationship between BCom and Entrepreneurship, let’s learn the career-orientated perks of enrolling in this programme:
Offers you diverse career opportunities in finance, accounting, marketing, and taxation.
Provides you with practical knowledge of business operations, financial analysis, and market trends.
Prepares you for roles like CA, CFA, and CMA.
Provides you with job opportunities in the global business domain.
Educates you on business strategy, financial management, and operations.
Allows you to build your network with your peers, mentors, and industry professionals.
Gives you unique insights on marketing trends, budgeting, and resource management.
You might think that an entrepreneur is a business executive majoring in management. However, studying administration and management isn’t enough to run your start-up. There are various factors that you would need to consider being an entrepreneur.
For instance, as the owner of your startup, you must know about finance, accounts, business, and management. Besides, having some technical knowledge could be a plus. You would also need a robust professional network to stabilise yourself in business. Enrolling in a BCom programme offers you all of it.
Provides you knowledge on financial services.
Prepares you for entrepreneurship with risk-taking and problem-solving skills.
Educates you on legal aspects essential for your startups.
Helps you develop skills to understand evolving market trends.
Encourages innovation in business and leadership.
Allows you to grow your professional network for partnerships.
Also Read: BCom Explained: Full Form, Course Details, Fee, Scope, Top Colleges
BCom is a foundational programme with a curriculum that goes beyond accounting. Furthermore, entrepreneurship is not only about managing your firm. It includes numerous roles and responsibilities from each department. Enrolling in a BCom course could help you understand multiple responsibilities as an entrepreneur. Here are the top 6 characteristics of a BCom programme that prepare you for entrepreneurship. Let’s explore them:
Entrepreneurship has a direct relationship with business. A thorough understanding of business acumen is crucial to becoming a successful entrepreneur. As a BCom student, you would learn business basics, including economics, management, and accounting. It would help you understand the key components of a business. The following are the subjects associated with business that you would study during BCom:
As a successful entrepreneur, you would want sound financial management. During your BCom studies, you will study a range of finance-associated subjects. You would learn to evaluate financial statements and manage budgets. Furthermore, the BCom programme also prepares you to make effective financial decisions. Let’s explore the finance subjects you would study in BCom:
Financial Accounting
Cost Management
International Accounting
Financial Systems
The better you understand the market, your business will be more successful. Pursuing commerce education provides insights into emerging market trends and consumer behaviour. Moreover, marketing is an ever-evolving landscape. A thorough knowledge of marketing strategies is important to survive as an entrepreneur. The BCom programme provides you with an understanding of marketing through the following subjects:
Advertising
Business Marketing
Marketing Fundamentals
Consumer Behaviour
Brand Management
Accounting and finance are two important elements of a business. Both terms are often misinterpreted for the same as well. There is a very thin line between accounting and finance. Accounting is the financial analysis based on past and present trends. It’s about maintaining records and reporting the financial transactions, cash flows, and performance.
On the other hand, finance focuses on the future aspects of a business’ finance departments, such as budgeting, risk management, and investments. BCom is one of the best programmes for mastering accounting. Here are the accounting subjects that you would study in BCom:
Management Accounting
Corporate Accounting
Financial Accounting
Cost Accounting
Macroeconomics
Being a BCom student, you would learn about taxation thoroughly. A business is a legally established start-up. Based on its yearly turnover, you would need to pay income taxes. There are other taxes, like selling and purchasing goods and paying salaries to employees.
Each type of tax falls under a different category. Thus, it requires a detailed understanding of tax and legalities. Enrolling in a BCom programme allows you to calculate taxes and file returns. It’s an important knowledge that every entrepreneur must know. Here are the subjects associated with tax in BCom:
Business Law
Goods and Services Tax
Value Added Tax
Income Tax
Indian Tax System
Most people prefer BBA over BCom for business administration. However, BCom could be a great choice for entrepreneurship based on its range of business aspects. Like a BBA programme, BCom also offers you specialisations known as BCom (honours). You could choose your desired specialisation based on your area of interest and goals. Here are several in-demand specialisations offered in BCom. Let’s go through them:
Also Read: Top 14 Subjects You Will Study in BCom
While planning to pursue BCom, you might wonder, “Does BCom offer you hands-on experience?”. As an entrepreneur, having hands-on experience in multiple departments could be your plus. So, let’s discover how you would get practical learning experience with a BCom programme:
Institutions offering BCom programmes often collaborate with multiple business firms. These firms offer you internship opportunities, usually during the last year of BCom. Most firms also provide part-time working opportunities, later convertible into full-time jobs.
With these internship programmes, you could earn practical experience. It also helps you experience working in a dynamic business environment. As an entrepreneur, you would learn to apply your academic knowledge to real-life circumstances.
A BCom programme facilitates case studies of various renowned business firms. These case studies allow you to gain practical insights into real-world business scenarios. It exposes you to dynamic problems and obliges you to discover solutions. Furthermore, case studies help you develop critical thinking and strategic decision-making skills. As an entrepreneur, you would learn about businesses’ potential challenges.
You might find business-associated competitions in many BCom programmes’ curricula. You would be challenged to tackle current market trends or business problems as a participant. You need to plan the potential solutions that are effective for real-world business challenges. In these competitions, you might need to work in a group, or it could be personal. As a solo participant, you would plan each aspect thoroughly. However, working in a group allows you to emerge as a leader and teaches you teamwork.
Most renowned institutions offer placement drives for UG and PG programmes. You could apply for placements at various companies and secure amazing job offers. During your employment, you could explore yourself from an employee’s perspective. It would significantly help you become a most appreciated and successful entrepreneur.
When beginning your start-up, think of Shark Tank India. Have you ever imagined presenting your ideas to four or five renowned entrepreneurs? It’s like opening up about your entire journey from balance sheets to business empires. However, have you ever noticed that they don’t look for qualifications first but your ideas?
Your skills, ideas, and way of tackling challenges speak for your entrepreneurial mindset. Enrolling in a BCom programme could be sufficient to start your own business. It’s the entrepreneurial skills that you earn during your studies and learn to apply practically. And BCom offers you it all. In a nutshell, BCom is one of the right programmes that prepares you for entrepreneurship.
