Starting up with time on their side - Metro US

Starting up with time on their side

Starting a business isn’t easy these days, but maybe that’s why entrepreneurs fresh out of school are taking the gutsy first step.

“Generally speaking, young people have a lot more appetite and tolerance for the risk associated with a new venture,” said Mark Allio, regional director for the Massachusetts Small Business Development Center Network.

Allio estimates that a new entrepreneur has a 50 percent chance of lasting longer than four years.

“I took a huge risk, but it’s a fun risk,” said Dan Dietz, 22. Dietz created Olejo Incorporated, a database design company for e-commerce Web sites, with Justin Aronstein in the spring of 2008. “If you have an understanding and a vision and you enjoy what you’re doing, it limits the fear.”

Michel Lutfi, 25, co-owner of Temptations Cafe, finds delegation a necessity to his family’s business, which was started in 2001 in Brookline and expanded in 2006 to a second location on Huntington Avenue. Michel and his brothers — Lou, 28, and Nassib, 23 — run the two different locations while their mother and father do the behind the scenes work such as daily food preparation and paperwork.

“It was a big risk and a lot of hard work,” said Lutfi.

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