Georgia committee hears testimony on cultural, financing and workforce barriers for small businesses

Chairman Todd Jones, addressing the Small Business Development Committee, urged policymakers to change cultural attitudes toward failure, expand growth-stage capital and improve education and workforce pathways to support small businesses across Georgia.

Jones told the committee the state needs “a culture of acceptance of failure,” saying entrepreneurs learn from failed ventures and may not try again if failure is stigmatized. He said his own experience — “7 companies… I’ve had 4 successes… I’ve had 2 failures” — shaped his views on culture, finance and workforce.

Why it matters: Jones and other presenters argued that cultural attitudes shape whether would‑be entrepreneurs persist; access to appropriate financing determines whether firms that reach a growth inflection can scale; and gaps in education and training limit the available workforce.

Jones and other speakers pressed the committee on three topics:

- Culture: Jones said regions that sustain startup ecosystems accept early failure as part of innovation and urged lawmakers to encourage risk‑taking and reduce stigma for failed founders. “Failure brings wisdom,” he said.

- Finance: Jones warned that while Atlanta and other Georgia markets are attracting capital, growth‑stage funding remains constrained. “We got about 3,000,000,000 sitting on the sidelines,” he said, and added that only “10 to 15%” of startups typically reach the revenue threshold (about $10,000,000) where larger growth rounds are needed. He described a funding gap at the Class C/D stage and suggested options such as credit support or incentives to shift investors into larger rounds.

- Workforce and education: Jones and subsequent presenters said schools and training programs must emphasize critical thinking and tolerance for risk. Jones said new graduates can be “paralyzed” by fear of failure and urged programs that teach students to “think outside the box.” Several presenters recommended stronger career pathways through technical colleges and earlier exposure to entrepreneurship in K–12.

Other committee members and witnesses repeated practical recommendations. A community banker who did not give a full name described community banks’ willingness to take startup risk when appropriate underwriting and local knowledge reduce uncertainty. Multiple presenters urged targeted outreach to institutional investors — road shows to New York and Silicon Valley — so venture capital and investment banks will “anchor” operations in Georgia and see stronger deal flow.

The committee did not take formal votes. Members said they would consider legislative and programmatic responses in future meetings, including whether to support credit‑support mechanisms or investor outreach campaigns.

Ending: Committee members closed by thanking speakers and noting the ideas — on culture, capital and workforce — would inform future committee work and potential legislation.