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The number of new businesses in Tennessee increased for the fifth straight year

In addition to being a client of the Chamber's Small Business Development Center, Kevin Maxfield, left, is also the director of the educational component, the Tennessee Small Business Development Center, which offers classes and other resources at Chattanooga State. He is pictured with business partner Bruce Bennett.
In addition to being a client of the Chamber's Small Business Development Center, Kevin Maxfield, left, is also the director of the educational component, the Tennessee Small Business Development Center, which offers classes and other resources at Chattanooga State. He is pictured with business partner Bruce Bennett.

By Dave Flessner 3 min read

The number of new business filing in Tennessee rose another 6.5 percent during the fourth quarter, continuing five years of year-over-year growth in the number of business entities operating in the Volunteer State.

The Tennessee Secretary of State said as of Jan. 1, there were 249,741 active entities in Tennessee. After business dissolutions, the total number of businesses rose 3.4 percent in the final three months of 2017.

“Business leaders continue to choose Tennessee to start or expand their companies. Our data shows unprecedented growth with no signs of slowing down,” Tennessee Secretary of State Tre Hargett said today.

There were 8,215 new entity filings in the fourth quarter of 2016, including 508 in Hamilton County.

In the quarterly economic report released today, state officials said the initial business filings are a good leading indicator of employment, personal income and tax revenues in Tennessee.