Hello, I’m considering MBA program or Postgraduate diploma that equips me with necessary business knowledge needed to startup and run my own business.
Brief information about myself, mother from Egypt based in Dubai and work for bank for almost 20 years.
Distance learning is preferred option for me. I thought of some programs and searched the board here, however, high cost of MBA has always deterred me. Pay as you go or pay per module course will be great. I’m not looking for triple crown programs or ranked schools as work growth or added value to my CV is not my target. A decent program with necessary core subjects should be OK. I checked the short courses offered through coursera but would like to have a structured program. I thought of MBA global course by University of Derby, core subjects are very good and the option to exit the program after completing 120 credits is available (PGdip should cost GBP 8700l-). I also thought of some business management courses such as the ones by Qualifi.
Do you think starting and running business would really require MBA course or a management program should be fine? Any other recommendation or advice?

Unless you want the network, I don't think Derby has any advantage over taking the much better Illinois, Boston, Wharton or Macquarie MBA specialisations on EdX and Coursera. You sound like you need the learning, not a diploma. 

Thanks for advice. Yes, my main goal is learning and get skillset required to compete in market as business founder but why executive or short courses may have advantage over traditional MBA program.  

There is no advantage educationally. Other things being equal, a traditional full-time MBA will give you a better education than an executive programme or short course. They are simply more convenient for people who do not want to stop working. 

Fair enough! In this current economy and jobs uncertainty, committing time and funds to full MBA program is not an option. I think I should try Illinois specializations as start, Thanks Duncan for insights! 

I would also suggest you look at the UNiversity of the People MBA. 

You should also consider whether you actually need to do a full-on degree (if you think your goals require it...)
With all the free courses out there, in every subject from leadership to analytics and finance, you can get much of this *learning* without doing an actual degree.
I've known people who have also combined these kinds of courses with a stint at a business accelerator for the hands-on part. In all honesty, most of their business ideas don't get far after the accelerators, but the second or third ideas are often successful. Such is the nature of starting-up, though!
On the other hand, with an MBA from a world-class institution, you'd also be investing in a network, which can be indispensable, depending on what your business idea is and how it will work, practically.