Secretary of State Tre Hargett
Tennessee recorded 8,919 new businesses from April to June, up 7.2% from the same time last year. The increase is the state’s 19th consecutive year-over-year, according to a report prepared by Tennessee Secretary of State’s office and University of Tennessee at Knoxville.
The state experienced a 53 percent drop in business closures, with close to 2,000 businesses shutting down in the second quarter.
Nearly all of the new business filings were Tennessee based, indicating the state’s momentum in entrepreneurship.
Hargett said he is optimistic about the state’s economic trajectory and forecasts ongoing expansion for the next year, despite slow gross domestic product growth nationally.
