“For 10 years, I watched bad things happen to good people. I saw things I never want to see again, but it toughened me,” said Kandiss Ecton. “I’m the type of person who strives to be proactive so helping people after something happened to them was difficult.”

These days, Kandiss is a State Farm agent in Ferndale, Michigan. She helps people prepare for the unexpected.

“As an agent, I can’t foresee what will happen to someone, but I help make sure they are covered in the event something does.”

October is National Women’s Small Business Month. Women-owned firms account for 39 percent of all privately held firms and contribute eight percent of employment and 4.2 percent of revenues. One in five firms with a revenue of $1 million or more is woman-owned, according to Businesswomen.org.

“As entrepreneurs, we can create our own paths,” she said. “Women represent a huge economic power and offer important consumer insights. Female buying power is immense.”

Kandiss is involved in several networking groups for women business owners and serves as a committee member of the Women of Color Entrepreneur Circle. She shares her story of becoming a business owner and mentors women who want to do the same or have recently opened a business.

She says some of the challenges small business owners face include hiring, keeping up with the financial responsibilities of the business and providing a safe and welcoming environment for customers and employees.

“As a member of the local chamber of commerce, I stop by new businesses to give them a community welcome packet and introduce myself,” Kandiss said. “I talk with them about the area and offer to connect them with someone who can help answer questions they may have about being a business owner.”

When business owners ask her about their insurance and financial services needs, she explains the impact a loss could have on their business. She also helps them understand that, as the business grows, so do their exposures.

“When talking with business owners about their needs, I say planning ahead is like putting a child in a car seat,” Kandiss said. “It’s a proactive step to help protect their business against the consequences of what could happen.

 “As a State Farm agent, I’m in a position to educate and help people understand what they have at risk. And, if there’s a loss, I can help them rebuild and deliver on the promise.”

“When startups find out I work for State Farm they’re surprised,” says Chan.

State Farm products insure where we live, how we travel, and cover life and wellness. If companies can help us continue to innovate in any of those strategic areas, Chan wants to speak with them.

“That eureka moment where I make the connection between a State Farm need and a solution from a startup is my favorite part of the job,” he adds.

“We are looking for products and services that we don’t currently have or technology that can enhance the products and services we currently offer,” says Mike Remmes, Innovation Executive in Labs @ State Farm. He’s also the architect of its State Farm Ventures, which focuses on research and development.

“We want to invest in companies that can help streamline our processes and operations or provide better services and products to our customers, now and into the future.”

However, venture capital waters are rough and unpredictable.

“Challenging conventional thinking is the point where innovation occurs,” explains Corey Schieler, Director of State Farm Ventures. What his team seeks is alignment between State Farm and startups.

That connection recently happened with a young firm called HopSkipDrive. The company specializes in transporting children to and from school. State Farm Ventures determined that the idea provides a valued service and peace of mind. In fact, it’s not just for customers facing transportation challenges for their children; there may be future alignment to customers with elderly parents facing similar mobility difficulties.

State Farm Ventures is a wholly owned subsidiary of State Farm. It launched in 2018 with a $100 million investment commitment and has already provided funding to nine companies.

“We try to find companies that are strategic to us. They must benefit our policyholders or advance the interests of State Farm. They must also provide a competitive advantage,” concludes Remmes.

Other investing examples include Cambridge Mobile Telematics. They provide State Farm with the technology behind Drive Safe & Save, our signature discount program. There's also the Whisker Labs' Ting device that can help mitigate or prevent house fire losses.

State Farm has been an innovative company since day one. Then, a farmer named George J. Mecherle decided to create an insurance company that more fairly matched risk to price.

As we approach our 100^th anniversary, the pursuit of innovation to better service customers remains our north star.

Pitching ideas to State Farm Ventures has never been easier thanks to the new State Farm Ventures website. To all entrepreneurs seeking funding: innovation is key, but khakis are not mandatory.

Guest Blog by Linda McMahon, SBA Administrator

Once upon a time….

It’s the classic opening to some of our favorite fairy tales. As children we dream of magic potions and knights in shining armor that will provide our happily ever after. How were we to know that our own hard work, skill and determination could be far more effective?

Once upon a time, my husband and I started our business sharing a desk. As he developed our product and expanded our markets, I managed the books. When the work became too much for the two of us to handle ourselves, we hired our first employee. As our business grew, we hired another. Then another. Over decades of hard work growing our business, the company we created now has grown to a publicly traded enterprise with more than 800 employees and consumers in 180 countries worldwide.

As an entrepreneur, I have truly lived the American Dream: the classic tale of taking a risk on an idea, working hard and creating something from nothing. Don’t get me wrong – we had plenty of stumbles and challenges providing the plot twists along the way. But it’s a story I am always proud to tell.

And as head of the U.S. Small Business Administration, my goal now is to help more people have the opportunity to live the American Dream.

Yet many aspiring entrepreneurs have no idea how to get their stories started or write their next chapters.

The SBA is here to help, with resources both online and in communities from coast to coast.

During National Small Business Week, as we celebrate the 28 million small businesses that drive our nation’s economy, we also showcase the resources and services the SBA provides to entrepreneurs at every stage. Whether they are starting up, expanding or getting through a tough time.

The SBA has 68 district offices and an extensive network of resource partners across America, including Puerto Rico, the U.S. Virgin Islands, and Guam. The experienced professionals staffing these offices offer a core group of services that we call the “three Cs and a D” – capital access, counseling, contracts, and disaster assistance.

Many entrepreneurs need capital to start or expand their small business. This includes combining what they have with other sources of financing. While the SBA doesn't loan money directly to small business owners, it helps facilitate loans with a guaranty that a certain portion will be repaid. We offer counseling on starting, scaling and succeeding in business, from how to draft a business plan to how to export your product overseas. And we train small businesses on how to compete for government contracts, especially those set aside exclusively for small business owners. Finally, SBA provides a helping hand to small businesses recovering from disasters.

As I think back on my own story as a small business owner, I wonder how much easier things might have been if we’d been aware of the many valuable services SBA provides. My hope is that as more people learn about the SBA, they will have the confidence, skills and resources they need to succeed as small business owners. Then we can continue to revitalize a spirit of entrepreneurship in our country.

There’s room for far more success stories in our library.

And the SBA can help more entrepreneurs write their own “happily ever after.”

Owning your own successful business is a dream for many. Imagine living that dream as a teenager. Students from the small town of Immokalee, Florida are doing just that.

Taste of Immokalee sauce and salsa is giving Immokalee High School (IHS) students hands-on entrepreneurial experiences. The innovative educational program is also helping send them to college.

The local community development organization, One by One Leadership Foundation, in partnership with Taste of Immokalee provides instruction and direction. IHS students started the business in 2014 with help from a State Farm Youth Advisory Board grant.

Students get real life entrepreneurial experience thanks to the program. Their businesses and consumer interactions increase their knowledge of entrepreneurship while growing interpersonal skills.

“The students are involved in all aspects of the brand, from production to sales and marketing,” says Marie Capita, One Leadership Foundation’s Executive Director for Taste of Immokalee. “Through entrepreneurship classes, students learned how to operate the company. They solicit potential buyers and make presentations to prospective clients. They go into markets to promote the products.”

The students creatively share the inspiration behind the products and their business model through unique product labels of their own design.

“One of my favorite roles in our company is helping design marketing materials for the products,” says Christopher Bances, President of Taste of Immokalee and an IHS senior. “I’ve met lots of people that can help me in my future career.”

The students started by determining the cultural and nutritional needs of their community. They then created the food products. All are inspired by family recipes and use vegetables and fruits grown locally.

So far, the students have developed and produced a line of six products. They are available online and in 19 supermarkets across Collier County, Florida.

After one year in existence, the company was profitable. All proceeds benefit Immokalee students. So far, the business has awarded nine scholarships to Taste of Immokalee student entrepreneurs.

The students’ ultimate goal is to bring the products' production to Immokalee. This will help create jobs for people in the community.

“Taste of Immokalee has allowed for personal growth as I enter the world of business and entrepreneurship,” says Kayla Booney, a junior at Immokalee High. “Although I am the daughter of a business owner, I had little knowledge of what’s necessary to actually operate a business. Through Taste of Immokalee, I have learned that it takes responsibility, time, persistence, and dedication to bring to fruition what begins simply as an aspiration. I am now able to apply these qualities to other aspects of my life. Whether it’s school, work, or preparing for life after high school, I owe it to Taste of Immokalee.”

Taste the flavor. Savor the diversity. Feel the excitement. Experience the culture! Buy and try the products at www.tasteofimmokalee.com.