Most states offer alternative ways of becoming a teacher. Namely, a person would be required to have a bachelor's degree in the subject he would like to teach, but the teaching program requirement could be waived (depending on a state), if the person had substantial work experience in the area they taught.
All states require an aspiring business teacher to obtain a certification (a bachelor's degree) from an accredited college or university, and a license. All states require a bachelor's degree in target subject plus the teacher preparation course, that can be replaced with life experience in some states. The license is usually obtained from the Board of Education after passing a competency test and needs to be renewed periodically.
Apart from business knowledge, a business teacher needs to have certain qualities such as patience, trustworthiness and good communication skills to succeed in a teaching position. The teachers should also have basic knowledge about the cultural differences as they will be teaching students of many different backgrounds. They need to respond to students with respect, motivate them to achieve the best results they can and treat each student individually.