In the wake of a pandemic that ravaged economies around the world, Tennessee has been dosed with an ample, invigorating surge of new entrepreneurial activity.
According to the latest Tennessee Quarterly Business and Economic Indicators report, the state saw new business filings grow by 19,652 in Q1 2021, a 55.1% increase, and the largest tally of new business filings on record (dating back to 1993).
This isn’t just a case of a post-pandemic recovery, either; because as Bill Fox, the director of the Boyd Center for Business and Economic Research, noted, entity growth was strong, even before this quarter. The Boyd Center is based at the University of Tennessee at Knoxville.
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