Bangor entrepreneurs encourage potential business owners

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BANGOR, Maine (NEWS CENTER) -- Starting a small business is tough in good times, let alone trying in a struggling economy. But Bangor entrepreneurs say it is possible with the right goal and support.

Brett Settle, who owns Giacamos in downtown Bangor, said there are two big obstacles: finding money and a good location.

Potential business owners also need to know their town and what it's missing to find their niche. He says to offer a better product than competitors with better service to lock in a consistent clientele.

Settle said sometimes entrepreneurs don't realize just how much work goes into it.

"It can be very unrewarding, long hours," said Settle. "You'll wind up doing most of it yourself. The people that last in this have a lot of experience in it and really, really love the four walls that they're in."

Settle and other restaurant owners spoke about their experiences in the business Wednesday as part of a panel on opening a restaurant or cafe.

That panel was held at the University ofMaine. For more information on how you can start your own business.