Tennessee fifth most popular state for new business filings

Tennessee is one of the top states for entrepreneurs, according to information compiled from U.S. Bureau of Labor Statistics data. Tennessee ranked as the fifth most popular state for new businesses with the number of new businesses in the state growing by 8% between 2022 and 2023. The state saw more than 16,000 new businesses open during that time frame. Oregon was the top state for new businesses with a 9.9% increase in new business filings, followed by Montana, Michigan, and Hawaii.