01/29/2007
Joe Pascaretta shows how entrepreneurship skills help him balance school and a career
CONTACT: Melissa Sharp, (202) 554-9000
Washington, D.C.--For some, freshman year of college can be a big adjustment, but for a young entrepreneur like Joe Pascaretta, founder and president of the Alps Lawn Company and Alps Technology International and a freshmen student at the University of Michigan, things are going pretty well.
Both of his companies are growing substantially. Pascaretta's Alps Lawn Company--a landscaping firm that serves more than 60 residential and commercial properties--experienced a 239 percent increase in revenue to gross more than $1 million in 2006. Pascaretta's other business, Alps Technology International--an Internet technology firm for the Web site development market--saw a 93 percent increase in revenue in part due to a major increase in international sales.
Pascaretta, 19, credits his ability to balance work and school in part to the $5,000 scholarship he received last year from the National Federation of Independent Business Young Entrepreneur Foundation. The scholarship helped Pascaretta defray the costs of tuition so that he could continue to focus on running both of his businesses while earning a college degree.
When deciding where he should attend college, Pascaretta chose the University of Michigan so that he could continue to run both of his businesses. He realized that financially he could have chosen to forgo college, but instead chose to pursue a degree in business while continuing to run his companies.
"In today's business community, a degree is a valuable asset," said Pascaretta. "I plan to continue running both businesses through college, but after graduation I want to be able to evaluate my options and see what opportunities are out there. As an entrepreneur, I'm always looking for new innovative ways to reestablish myself in the business world."
Pascaretta had this advice to give other young entrepreneurs who want to take on the challenge of running a business at a young age:
"Be determined. Being a young entrepreneur, you'll face a lot of flack for being young, so you have to be responsible beyond your years to be successful. Above all, enjoy what you do."
Pascaretta has also quickly learned the value of being associated with other supporters of small business through the National Federation of Independent Business.
"It's been wonderful. NFIB has been one of my favorite contacts. I've made wonderful contacts in both Washington, D.C., and Lansing, Michigan. Knowing that there is a network of small-business advocates out there gives you confidence that someone is there to back you up. It gives you motivation because you know the NFIB network supports what you are doing," said Pascaretta.
NFIB's Young Entrepreneur Foundation is now accepting applications for the 2007 Young Entrepreneur Awards. High school seniors can apply for a scholarship online at www.nfib.com/YEF. Applications for the scholarships will be accepted through February 12, 2007. Award recipients attend the university, college, community college or vocational/technical institute of their choice with $1,000 in tuition assistance from the NFIB Young Entrepreneur Foundation. Five students will be named semi finalists and will receive a $5,000 scholarship. And one of the five semi finalists will be named the Young Entrepreneur of the Year and will be awarded an additional $5,000 for a total scholarship award of $10,000.
