JACKSONVILLE, Fla. – Northeast Florida’s business landscape is evolving rapidly, with small businesses playing a pivotal role in the region’s growth. On a recent episode of “This Week in Jacksonville: Business Edition,” Coley Jones, business banking market executive for Bank of America in Northeast Florida and greater Georgia, shared his perspective on the opportunities and challenges facing local entrepreneurs.
Jones identified talent management as a top concern for business owners.
“Oftentimes, we hear the most is talent management, right? How do you maintain talent, right? That you want to keep, of course, as well as grow and attract talent,” he explained.
He emphasized that the area’s strong educational system is a key asset: “Knowing that those employees will have the benefit of an A-rated school system is great, but also it speaks to the quality of the workforce. Those young people will eventually move into the workforce and help grow these amazing businesses we have throughout the First Coast.”
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Discussing the sectors experiencing the most growth, Jones pointed to technology, logistics, and services.
“Technology is a very, very big sector here for us throughout the First Coast. You also think logistics as well, and so - services as a whole, has continually just led the way for us here in the area,” he said.
For those considering entrepreneurship, Jones offered encouragement: “Being a business owner here on the First Coast is drastically different from other parts of the country. So certainly an exciting time as we continue to fast pace.”
Bank of America’s approach to supporting small businesses centers on three pillars: local presence, digital innovation, and advisory services. “There are three things that we always talk a lot about, right? That’s being local, digital and advisory,” Jones noted. He added, “Having a team of local bankers that specializes in businesses here in the market is extremely important and allows them to do what we’re doing, have a conversation face to face, right peer to peer, and really understand not just the needs, but the opportunities of the business and how we can support them for growth.”
Community engagement is also a priority. “One of the things that we hopefully have a lot of pride on is our ability to do that. You know, most folks don’t know this, but we’re coming up almost on 150 years as a bank in this community,” Jones shared, highlighting the bank’s longstanding commitment to Jacksonville and its partnerships with local organizations.
As the conversation concluded, Jones offered practical advice for small business owners: “We know mistakes can be costly, but more often than not, they just cost us time. So when you have a local business banker that can support you, listen to you, understand where those opportunities are. If we do it right, we help save you time.”