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Does Business Studies Involve Math

You are thinking about studying business. You like the idea of leading a team. You like the idea of organising projects. You definitely like the idea of the salary that often comes with it.

But then a cold shiver runs down your spine.

“Is there maths involved?”

You might be having flashbacks to high school. You remember staring at a whiteboard covered in triangles and letters that had no business being in a maths equation. You remember asking “When will I ever use this?” and never getting a good answer.

If the fear of numbers is holding you back from enrolling in a Diploma of Business or Leadership then I have some good news for you.

Take a deep breath.

Business maths is not high school maths.

You do not need to find ‘x’. You do not need to know Pythagoras’ theorem. You do not need to calculate the trajectory of a rocket.

But you do need to be comfortable with money.

Let’s break down exactly what kind of “maths” is actually involved in business studies and why it is nowhere near as scary as you think.

It is about logic not calculus

When we talk about numbers in business we are usually talking about financial literacy.

This is very different from abstract mathematics. Financial literacy is practical. It is logical. It is the kind of maths you likely already do in your head when you are at the supermarket.

Ask yourself these questions:

Can you tell if a 20% off sale is a good deal?
Can you work out if you have enough money in your bank account to pay your phone bill?
Can you split a dinner bill with three friends?

If you answered yes then congratulations. You have the foundational skills to succeed in business.

What will you actually have to do?

In a course like the Diploma of Business we focus on the numbers that keep a company alive.

Here are the main areas you will touch on.

1. Budgeting

This is the big one. A budget is just a plan for your money. You will learn how to list what money is coming in (revenue) and what money is going out (expenses). If more is going out than coming in you have a problem. Your job is to spot that problem.

2. Profit and Loss

This sounds fancy but it is simple addition and subtraction.

You sell a coffee for $5.
It cost you $2 to make the coffee.
Your profit is $3. That is the core of it. You will learn how to track this over a month or a year.

3. Basic Data

Business leaders love data. You might look at a graph that shows sales going up or down. You do not need to draw the graph from scratch. You just need to be able to look at it and say “Oh look sales are dropping on Tuesdays. We should run a promotion.”

The secret weapon (Why you don’t need to be a genius)

Here is the biggest secret in the corporate world.

Nobody does the maths in their head.

In the real world we have tools. We have calculators. We have accounting software. And most importantly we have Microsoft Excel.

Spreadsheets are your best friend.

In your business course you will learn how to use these tools. You enter the numbers into the box and the computer does the calculation for you.

Your job is not to be the calculator. Your job is to be the manager.

You need to understand why the numbers matter not just how to add them up. You need to look at the spreadsheet and say “We are spending too much on stationery” or “We can afford to hire a new staff member.”

Why financial skills make you a better leader

You might be thinking “Can’t I just hire an accountant to do this?”

Sure. But as a leader you need to understand the language of business. And unfortunately that language is numbers.

If you are running a department you need to know if your team is hitting their targets. If you are pitching a new idea to your boss you need to show them how much it will cost. If you are starting your own business you need to know how to price your product so you don’t go broke.

Learning these skills empowers you. It means nobody can pull the wool over your eyes. It gives you confidence in meetings.

The Bedford approach to numbers

At Bedford College we know that “maths anxiety” is real. We see it all the time.

That is why our classes are different.

We are not a university lecture hall with 300 people where you are too scared to put your hand up. We are a supportive environment with small class sizes.

Our trainers are industry experts. They explain things in plain English. They use real-world examples.

If you don’t understand a concept they will sit with you and go through it until it clicks. We focus on the practical application. We want you to walk away knowing how to run a project budget not how to solve a differential equation.