Young Entrepreneurs Defy Economy
Examiner.com:
The economy may be suffering, but for a host of business owners and entrepreneurs out there, there are no excuses.
This is a time for innovation, progress and hard work – even if they are college students.
Greeley is becoming a hotbed of business ideas as students try their hands at the business world, be it opening bars, running Web sites, painting houses, or simply finding a niche in an otherwise stagnant market. More important, students are learning to navigate a business world in some of the worst economic times, making their own way rather than counting on someone else to do it.
“I don’t want to work for an hourly wage,” said Greg Farnsworth, a senior at the University of Colorado who recently opened the long-awaited Patrick’s Irish Pub in downtown Greeley. “You have all these business ideas and never start them.
“Finally, I said I have to stop making excuses. I’ve got to do this.”
College is the perfect time for students to try their hands at business, said Dave Thomas, an assistant professor of management at the Monfort College of Business at the University of Northern Colorado. The college offers an entrepreneurship certificate to its business majors, but it will soon offer an entrepreneurship minor for all students at UNC – the first in the state to do so.
“The beauty of doing it in college is you’re not risking a lot,” Thomas said. “They use the coursework to learn how to start a business. They’re using the time to start out their idea. The point is, the idea is tested in a college setting, where there was not much risk, they have access to great resources and a platform to connect with (the business) network… A lot of students don’t want to go to work for a big corporation and get laid off when they’re 40.”
Sara Rigney, a freshman at UNC, is starting early. For her, the learning starts now while she’s working through her general studies. She recently signed on with College Works, a franchised house painting network, in which she’ll operate her own house painting business during the summer. She hopes to create a $60,000 business, organizing crews to paint houses throughout Arvada, her home town.
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