10/17/10 9:21 AM
It's not an easy time for young entrepreneurs. Most people in their teens or early 20s trying to start businesses today were not yet out of college when the Great Recession began in December 2007. Unlike their dot-com-era predecessors, today's startups aren't sloshing in venture capital, and business credit is tight. People under age 35 started businesses at a lower rate in 2009 than in the year before, even as the rate of entrepreneurship in the broader population is increasing, according to data from the Kauffman Foundation.
What it does: Runs lacrosse leagues, training classes, and camps
Founders: Tyler Low, 23, and Jason Wellemeyer, 25
Based: Wellesley, Mass.
Tyler Low and Jason Wellemeyer both played lacrosse at Babson College. In 2007, they started an informal summer league for 75 students, who each paid $100 to play once a week. That blossomed into an overnight camp the next year. Now PrimeTime Lacrosse runs camps, training programs, and a league known as Penguin Lacrosse. The company ran a tournament with 50 teams from across North America in June. Low says the two are responding to demand from lacrosse players who want to practice off-season. Their programs start for children as young as 7, with adults as old as 60 playing in their leagues. At peak times, they manage a staff of 50 people, mostly coaches. Close to 2,000 players will participate in training and leagues in 2010. Low says PrimeTime Lacrosse had $270,000 in revenue in 2009 and is projecting $650,000 in 2010.