Entrepreneur Abe Furth inspires SOE students by sharing his business insights

Local Entrepreneur Abe Furth recently shared his insights and experiences, including tales from navigating the past year, with students enrolled in ECO 254-Small Business Economics and Management. Abe noted that Orono Brewing’s ties to Maine and University of Maine Alumni are key drivers of his company’s success and continued growth. He has enjoyed running into fellow Mainers and Black Bears over the years as Orono Brewing has expanded their brand and had events all over the Northeast (and out West!). The School of Economics (SOE) Community thanks Abe for graciously taking the time to engage with our students.

Abe Furth shared three important insights with the class that are relevant to the broader SOE Community.

First, he noted the potential advantage of becoming an entrepreneur at a young age (e.g., he and his wife were both 23 at their start), when you have the lifestyle and ability to put in 80 hour weeks and have fewer commitments on your time and energy. Abe also noted that personal experiences and activities when you are younger, for him a cross-country bike ride raising money to prevent domestic violence and spread awareness of teen dating abuse , can be the difference between having the “character” to obtain a bank loan or not.

Abe also stressed the importance of brand building and relationships to a successful business. Abe discussed the transitions from having an in-person presence with the companies that distribute and sell their product to spending more time on Zoom and the phone. Throughout the pandemic, he and staff had to work hard to make sure their brand was on the front burner and maintain the good relationships they have with all of the parties along their supply chain. Building a brand is his passion, and it is clear that Orono Brewing Company has had continued success by being great partners with the local community, distributors, restaurants and bars.

Third, he emphasized the significance of innovating and taking on new challenges. Abe highlighted that he and his business partners enjoy taking on a new project that excites and challenges them every year or two, whether it be a real estate development project renovating a beautiful downtown building in Orono or Bangor, or a new business venture. Abe is impressed at how creative he has seen Maine businesses become during the pandemic, and he is excited for a new business venture that he and his partners are launching this spring.

Thanks again to Abe Furth for taking the time to engage and inspire SOE’s students.

For more information about Abe Furth and Orono Brewing Company, click here to follow them on Instagram and here to follow them on Facebook!