What type of education and skills are required for owning a business?

It does depend on what kind of business you want to run. But you also need to know how to run a business, and what you need to run the business. (material wise) Anyways, running a business is hard especially if you do not have enough money for everything. And if your business is going bad, then your business, is going to go out of business because you wont be getting any money from it !

If you intend to start a new Business its always advisable to do a job first to get experience of that particular field of your Business.In this way it becomes more comfortable in running the business ,since you get a proper knowledge from your work experience about handling the business properly.At the same time its always good to do proper financial and management planning,studying selling market,product costs if you're starting a manufacturing business,etc, before getting into any new business,in order to do things successfully and avoid losses.

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Read the book "Rich Dad Poor Dad" and i guarantee the knowledge you will obtain from this book will be a big asset for you.