Tennessee experienced the highest number of business filings for a second quarter in the 25-year history of data, according to the new Quarterly Business and Economic Indicators report issued by Secretary of State Tre Hargett’s office.
In the second quarter of 2023, 19,996 new entities filed in Tennessee. The 1.4% year-over-year growth in new business filings shows that businesses continue to establish in Tennessee at high rates.
Over the past year, 77,044 new businesses filed, and employment rose by 84,600 jobs. State unemployment in June matched its all-time low at 3.2%, below the national rate of 3.6%.